Wellington Management Group LLP Reduces Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Wellington Management Group LLP trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 82.3% in the 4th quarter, HoldingsChannel reports. The firm owned 455,979 shares of the credit services provider’s stock after selling 2,114,810 shares during the quarter. Wellington Management Group LLP’s holdings in PayPal were worth $38,918,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Relyea Zuckerberg Hanson LLC raised its stake in shares of PayPal by 113.8% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after buying an additional 3,976 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in PayPal by 2.7% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider’s stock valued at $59,489,000 after acquiring an additional 18,172 shares in the last quarter. Fortem Financial Group LLC lifted its holdings in PayPal by 28.0% in the fourth quarter. Fortem Financial Group LLC now owns 33,302 shares of the credit services provider’s stock valued at $2,842,000 after acquiring an additional 7,291 shares during the period. Franklin Resources Inc. boosted its position in PayPal by 120.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,555,240 shares of the credit services provider’s stock worth $125,461,000 after purchasing an additional 849,311 shares in the last quarter. Finally, Ring Mountain Capital LLC acquired a new stake in shares of PayPal during the 4th quarter worth approximately $581,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Price Performance

PYPL stock opened at $58.37 on Monday. PayPal Holdings, Inc. has a 52-week low of $56.39 and a 52-week high of $93.66. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market cap of $57.74 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The business has a fifty day moving average of $73.65 and a two-hundred day moving average of $80.63.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the company earned $1.48 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, research analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PYPL shares. Keefe, Bruyette & Woods decreased their price objective on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, March 31st. Robert W. Baird lowered their price target on PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Morgan Stanley boosted their price objective on PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 target price on shares of PayPal in a research report on Thursday, December 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research note on Wednesday, February 26th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.13.

Insider Activity

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

About PayPal

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.