Wallace Advisory Group LLC Sells 5,277 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Wallace Advisory Group LLC lowered its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 31.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,595 shares of the credit services provider’s stock after selling 5,277 shares during the period. Wallace Advisory Group LLC’s holdings in PayPal were worth $712,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new position in shares of PayPal in the first quarter worth about $47,000. Morton Capital Management LLC CA purchased a new position in shares of PayPal in the 1st quarter worth approximately $205,000. Navalign LLC increased its position in shares of PayPal by 22.9% during the 1st quarter. Navalign LLC now owns 13,941 shares of the credit services provider’s stock valued at $934,000 after purchasing an additional 2,600 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in PayPal during the 1st quarter valued at $6,269,000. Finally, Global Trust Asset Management LLC lifted its position in PayPal by 33.3% in the first quarter. Global Trust Asset Management LLC now owns 5,248 shares of the credit services provider’s stock worth $352,000 after buying an additional 1,310 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PYPL shares. Evercore ISI raised their price target on shares of PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday. The Goldman Sachs Group reissued a “neutral” rating and issued a $69.00 price objective on shares of PayPal in a research note on Monday. UBS Group lifted their target price on PayPal from $63.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Monness Crespi & Hardt increased their price target on PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Finally, BMO Capital Markets lifted their price objective on PayPal from $64.00 to $65.00 and gave the company a “market perform” rating in a report on Wednesday, May 1st. Twenty-one analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, PayPal has a consensus rating of “Hold” and an average price target of $73.64.

Check Out Our Latest Research Report on PYPL

Insider Buying and Selling at PayPal

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the transaction, the director now directly owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by corporate insiders.

PayPal Stock Performance

PYPL stock traded down $0.21 during trading on Tuesday, hitting $59.28. The company had a trading volume of 5,948,379 shares, compared to its average volume of 14,948,172. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $76.54. The firm has a 50-day moving average price of $63.52 and a 200-day moving average price of $62.46. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. The firm has a market cap of $62.01 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 0.99 and a beta of 1.43.

PayPal (NASDAQ:PYPLGet Free Report) last issued its earnings results 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). The firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. On average, analysts expect that PayPal Holdings, Inc. will post 4.14 earnings per share for the current year.

PayPal Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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