Meridian Management Co. Sells 73,452 Shares of PayPal Holdings, Inc. $PYPL

Meridian Management Co. cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 91.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,537 shares of the credit services provider’s stock after selling 73,452 shares during the quarter. Meridian Management Co.’s holdings in PayPal were worth $438,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PYPL. Valley Wealth Managers Inc. raised its holdings in shares of PayPal by 0.7% during the third quarter. Valley Wealth Managers Inc. now owns 229,275 shares of the credit services provider’s stock worth $15,375,000 after acquiring an additional 1,559 shares during the period. Foundations Investment Advisors LLC boosted its stake in PayPal by 93.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 6,678 shares of the credit services provider’s stock worth $448,000 after purchasing an additional 3,217 shares during the period. Cloud Capital Management LLC bought a new position in PayPal during the 3rd quarter worth about $30,000. GPS Wealth Strategies Group LLC raised its stake in shares of PayPal by 2.5% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 8,643 shares of the credit services provider’s stock valued at $580,000 after purchasing an additional 214 shares during the period. Finally, AE Wealth Management LLC lifted its holdings in shares of PayPal by 24.4% in the third quarter. AE Wealth Management LLC now owns 56,026 shares of the credit services provider’s stock valued at $3,757,000 after purchasing an additional 10,994 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Aaron Webster sold 9,282 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $66.29, for a total value of $615,303.78. Following the completion of the sale, the executive vice president directly owned 35,699 shares of the company’s stock, valued at $2,366,486.71. This trade represents a 20.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Suzan Kereere sold 4,162 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $59.84, for a total value of $249,054.08. Following the transaction, the insider directly owned 30,983 shares in the company, valued at $1,854,022.72. The trade was a 11.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 25,944 shares of company stock valued at $1,725,233 over the last quarter. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PYPL has been the topic of a number of recent research reports. Rothschild Redb lowered PayPal from a “hold” rating to a “strong sell” rating in a research report on Wednesday. President Capital decreased their price target on shares of PayPal from $91.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Dbs Bank cut their price objective on shares of PayPal from $75.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of PayPal in a report on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of PayPal from $75.00 to $65.00 and set a “hold” rating on the stock in a research note on Friday, December 5th. Twelve research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, PayPal currently has a consensus rating of “Hold” and an average target price of $73.10.

Check Out Our Latest Stock Report on PayPal

Key Stories Impacting PayPal

Here are the key news stories impacting PayPal this week:

PayPal Price Performance

Shares of PYPL opened at $53.11 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $59.19 and its 200 day simple moving average is $65.65. PayPal Holdings, Inc. has a 1-year low of $52.53 and a 1-year high of $90.93. The company has a market cap of $49.69 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 0.67 and a beta of 1.42.

PayPal (NASDAQ:PYPLGet Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The credit services provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. The company had revenue of $8.42 billion during the quarter, compared to the consensus estimate of $8.21 billion. PayPal had a net margin of 14.96% and a return on equity of 25.64%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 EPS. On average, research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

PayPal Profile

(Free Report)

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.

Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.

Further Reading

Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPLFree Report).

Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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