Naviter Wealth LLC Sells 2,096 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Naviter Wealth LLC trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 30.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,846 shares of the credit services provider’s stock after selling 2,096 shares during the period. Naviter Wealth LLC’s holdings in PayPal were worth $298,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in shares of 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 acquiring an additional 2,616,774 shares during the period. FMR LLC grew its position in shares of PayPal by 29.5% during the 3rd quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after acquiring an additional 1,575,930 shares during the period. LSV Asset Management grew its position in shares of PayPal by 271.6% during the 3rd quarter. LSV Asset Management now owns 1,533,300 shares of the credit services provider’s stock valued at $89,637,000 after acquiring an additional 1,120,700 shares during the period. Morgan Stanley grew its position in shares of 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 acquiring an additional 873,181 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of 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 acquiring an additional 864,684 shares during the period. 68.32% of the stock is owned by institutional investors.

PayPal Stock Performance

PayPal stock opened at $67.92 on Wednesday. The firm’s fifty day moving average price is $63.21 and its 200-day moving average price is $60.35. 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 stock has a market cap of $71.50 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 1.25 and a beta of 1.45. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $76.54.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 20.84%. The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter last year, the business posted $0.86 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts expect that PayPal Holdings, Inc. will post 4.02 earnings per share for the current fiscal year.

Insider Activity at PayPal

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on PYPL. Morgan Stanley reissued an “equal weight” rating and set a $66.00 target price (down from $118.00) on shares of PayPal in a research report on Tuesday, January 9th. Oppenheimer reaffirmed a “market perform” rating on shares of PayPal in a report on Thursday, January 25th. William Blair reaffirmed an “outperform” rating on shares of PayPal in a report on Thursday, February 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a report on Tuesday. Finally, Canaccord Genuity Group cut their price objective on shares of PayPal from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Twenty-four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, PayPal currently has an average rating of “Hold” and an average price target of $70.72.

PayPal Company 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.