PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lessened its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 48.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 12,632 shares of the credit services provider’s stock after selling 12,076 shares during the period. Silvercrest Asset Management Group LLC’s holdings in PayPal were worth $846,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PYPL. Pittenger & Anderson Inc. grew its holdings in PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after buying an additional 172 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in PayPal in the 4th quarter valued at about $25,000. American National Bank purchased a new stake in PayPal in the 1st quarter valued at about $27,000. Register Financial Advisors LLC purchased a new stake in PayPal in the 1st quarter valued at about $30,000. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in PayPal by 65.8% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after buying an additional 185 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Insider Activity at PayPal

In related news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the sale, the director now directly owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

PayPal Stock Performance

PYPL stock opened at $64.00 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The firm has a market cap of $66.95 billion, a P/E ratio of 16.12, a P/E/G ratio of 0.96 and a beta of 1.42. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $76.54. The stock’s 50 day simple moving average is $60.86 and its 200 day simple moving average is $62.16.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. The business had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 EPS. As a group, equities research analysts predict that PayPal Holdings, Inc. will post 4.16 EPS for the current year.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several recent analyst reports. Monness Crespi & Hardt lifted their price target on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Tuesday, April 30th. StockNews.com cut PayPal from a “buy” rating to a “hold” rating in a report on Monday. Wells Fargo & Company boosted their target price on PayPal from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. Finally, Stephens boosted their target price on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. Twenty equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $73.58.

PayPal 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.