Atria Investments Inc Sells 49,797 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Atria Investments Inc trimmed its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 35.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,149 shares of the credit services provider’s stock after selling 49,797 shares during the period. Atria Investments Inc’s holdings in PayPal were worth $6,000,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Norges Bank bought a new stake in PayPal in the fourth quarter worth $749,561,000. Charles Schwab Investment Management Inc. grew its stake in shares of PayPal by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock worth $428,449,000 after buying an additional 265,116 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of PayPal by 15.8% in the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock worth $445,103,000 after buying an additional 904,804 shares during the last quarter. First Trust Advisors LP raised its position in shares of PayPal by 1.7% during the 4th quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock valued at $225,283,000 after buying an additional 61,384 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of PayPal by 31.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock valued at $194,262,000 after acquiring an additional 687,940 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Down 5.1 %

Shares of NASDAQ:PYPL traded down $3.33 during trading on Friday, reaching $61.98. The stock had a trading volume of 23,117,055 shares, compared to its average volume of 12,879,998. The company has a current ratio of 1.24, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $63.36 billion, a P/E ratio of 15.61, a PEG ratio of 0.93 and a beta of 1.42. The firm’s 50-day simple moving average is $61.01 and its 200 day simple moving average is $62.22. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $70.66.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same period in the previous year, the company earned $0.83 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, research analysts expect that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Insider Activity 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 stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the sale, the director now owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PYPL shares. TD Cowen boosted their price objective on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $78.00 target price on shares of PayPal in a research report on Thursday, July 11th. William Blair upgraded PayPal to a “hold” rating in a research report on Tuesday. JMP Securities lifted their price objective on shares of PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 1st. Finally, Susquehanna increased their target price on shares of PayPal from $71.00 to $83.00 and gave the company a “positive” rating in a research note on Wednesday. Nineteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, PayPal presently has a consensus rating of “Hold” and a consensus price target of $74.94.

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.