Everett Harris & Co. CA Sells 8,826 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Everett Harris & Co. CA reduced its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 14.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 53,801 shares of the credit services provider’s stock after selling 8,826 shares during the quarter. Everett Harris & Co. CA’s holdings in PayPal were worth $3,604,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PYPL. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in PayPal in the fourth quarter valued at approximately $25,000. American National Bank bought a new position in PayPal in the first quarter valued at approximately $27,000. Private Wealth Management Group LLC bought a new position in PayPal in the fourth quarter valued at approximately $29,000. Register Financial Advisors LLC bought a new position in PayPal in the first quarter valued at approximately $30,000. Finally, Spartan Planning & Wealth Management boosted its stake in PayPal by 13,625.0% in the fourth quarter. Spartan Planning & Wealth Management now owns 549 shares of the credit services provider’s stock valued at $34,000 after acquiring an additional 545 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Citigroup raised their price objective on shares of PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, June 10th. JMP Securities lifted their price target on shares of PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 1st. Monness Crespi & Hardt lifted their price target on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. New Street Research initiated coverage on shares of PayPal in a research report on Friday, May 31st. They set a “buy” rating and a $80.00 price target on the stock. Finally, Susquehanna raised shares of PayPal from a “neutral” rating to a “positive” rating and set a $71.00 price target on the stock in a research report on Tuesday. Twenty research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.82.

Insider Buying and Selling at PayPal

In other news, Director Deborah M. Messemer sold 4,422 shares of the business’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 approximately $861,620.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

PayPal Stock Up 1.1 %

PYPL stock traded up $0.67 during midday trading on Thursday, hitting $59.64. The company’s stock had a trading volume of 6,908,317 shares, compared to its average volume of 13,210,254. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.28. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $76.54. The company’s fifty day moving average price is $62.86 and its 200 day moving average price is $62.37. The stock has a market capitalization of $62.39 billion, a P/E ratio of 15.02, a PEG ratio of 0.96 and a beta of 1.42.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) 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 21.58%. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts predict that PayPal Holdings, Inc. will post 4.14 EPS for the current 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.