Flputnam Investment Management Co. Sells 3,597 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Flputnam Investment Management Co. lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 33.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,212 shares of the credit services provider’s stock after selling 3,597 shares during the period. Flputnam Investment Management Co.’s holdings in PayPal were worth $443,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of PayPal by 12.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,246,996 shares of the credit services provider’s stock worth $144,215,000 after buying an additional 138,875 shares in the last quarter. Dakota Wealth Management increased its position in PayPal by 8.6% in the 1st quarter. Dakota Wealth Management now owns 4,894 shares of the credit services provider’s stock valued at $566,000 after acquiring an additional 387 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of PayPal by 15.4% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,860 shares of the credit services provider’s stock worth $793,000 after acquiring an additional 918 shares during the last quarter. Covestor Ltd lifted its position in shares of PayPal by 136.1% during the first quarter. Covestor Ltd now owns 1,334 shares of the credit services provider’s stock worth $154,000 after purchasing an additional 769 shares in the last quarter. Finally, Donaldson Capital Management LLC grew its stake in shares of PayPal by 5.3% during the first quarter. Donaldson Capital Management LLC now owns 3,095 shares of the credit services provider’s stock valued at $358,000 after purchasing an additional 155 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Trading Down 0.3 %

Shares of NASDAQ:PYPL opened at $63.26 on Thursday. The firm has a market cap of $66.59 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.44 and a beta of 1.45. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $77.94. The company’s fifty day simple moving average is $62.15 and its 200 day simple moving average is $59.89.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period in the previous year, the company posted $1.01 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts forecast that PayPal Holdings, Inc. will post 3.93 EPS for the current fiscal year.

Analyst Ratings Changes

PYPL has been the subject of several research analyst reports. DZ Bank cut shares of PayPal from a “buy” rating to a “hold” rating and set a $60.00 price objective for the company. in a research report on Friday, February 9th. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research note on Friday, January 5th. JMP Securities lifted their price objective on PayPal from $68.00 to $70.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Oppenheimer reissued a “market perform” rating on shares of PayPal in a report on Thursday, January 25th. Finally, Mizuho reduced their target price on shares of PayPal from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. Twenty-three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, PayPal presently has a consensus rating of “Hold” and an average target price of $70.53.

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the sale, the senior vice president now owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

PayPal Profile

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.