Norden Group LLC Decreases Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Norden Group LLC lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 23.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 27,788 shares of the credit services provider’s stock after selling 8,647 shares during the quarter. Norden Group LLC’s holdings in PayPal were worth $1,706,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PYPL. Nordea Investment Management AB boosted its position in PayPal by 420.6% during the 3rd quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock valued at $190,371,000 after buying an additional 2,616,774 shares during the period. FMR LLC boosted its holdings in shares of PayPal by 29.5% during the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock worth $404,367,000 after purchasing an additional 1,575,930 shares during the period. LSV Asset Management grew its stake in shares of PayPal by 271.6% in the third quarter. LSV Asset Management now owns 1,533,300 shares of the credit services provider’s stock worth $89,637,000 after purchasing an additional 1,120,700 shares during the last quarter. Morgan Stanley increased its holdings in PayPal by 4.5% during the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after purchasing an additional 873,181 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in PayPal by 56.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,395,312 shares of the credit services provider’s stock valued at $140,030,000 after purchasing an additional 864,684 shares during the period. Institutional investors own 68.32% of the company’s stock.

Insider Buying and Selling

In related news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction on Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the transaction, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PYPL shares. 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, April 17th. Evercore ISI lifted their price target on shares of PayPal from $56.00 to $60.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Mizuho decreased their price objective on shares of PayPal from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, February 8th. Sanford C. Bernstein raised their target price on shares of PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Finally, Argus cut shares of PayPal from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Twenty-four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $70.72.

PayPal Stock Performance

Shares of PYPL stock traded up $1.12 during trading hours on Tuesday, reaching $68.11. The company had a trading volume of 34,340,243 shares, compared to its average volume of 16,463,977. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29. The business has a fifty day moving average price of $63.03 and a 200-day moving average price of $60.27. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $76.54. The firm has a market cap of $71.70 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 1.23 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The company had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS. Sell-side analysts predict that PayPal Holdings, Inc. will post 4.02 earnings per share for the current fiscal year.

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.