PayPal (NASDAQ:PYPL) Stock Price Down 2.9%

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price traded down 2.9% on Friday . The company traded as low as $64.72 and last traded at $65.06. 5,718,674 shares were traded during trading, a decline of 65% from the average session volume of 16,442,396 shares. The stock had previously closed at $66.98.

Analyst Ratings Changes

Several analysts have recently issued reports on PYPL shares. Mizuho boosted their price objective on shares of PayPal from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Wednesday. Wells Fargo & Company upped their target price on shares of PayPal from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday. DZ Bank lowered shares of PayPal from a “buy” rating to a “hold” rating and set a $60.00 price objective on the stock. in a report on Friday, February 9th. TD Cowen upped their price objective on shares of PayPal from $58.00 to $68.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, William Blair reaffirmed an “outperform” rating on shares of PayPal in a research report on Thursday, February 8th. Twenty-five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PayPal currently has a consensus rating of “Hold” and a consensus target price of $72.73.

PayPal Trading Down 1.9 %

The company has a fifty day simple moving average of $63.56 and a 200-day simple moving average of $60.44. The stock has a market cap of $68.73 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 1.22 and a beta of 1.41. The company has a current ratio of 1.28, a quick ratio of 1.29 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 21.58%. The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. On average, research analysts forecast that PayPal Holdings, Inc. will post 4.03 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Frank Keller sold 7,686 shares of the company’s 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 of the company’s stock, valued at $1,420,795.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PYPL. Norges Bank bought a new position in shares of PayPal during the 4th quarter valued at $749,561,000. Nordea Investment Management AB increased its position in PayPal by 420.6% during the third quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock worth $190,371,000 after acquiring an additional 2,616,774 shares during the period. FMR LLC boosted its holdings in PayPal by 29.5% in the 3rd quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after purchasing an additional 1,575,930 shares during the period. LSV Asset Management grew its position in PayPal by 271.6% in the 3rd 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. Finally, The Manufacturers Life Insurance Company raised its position in shares of PayPal by 125.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after buying an additional 958,130 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

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.