Covey Capital Advisors LLC Sells 695 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Covey Capital Advisors LLC lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,499 shares of the credit services provider’s stock after selling 695 shares during the period. PayPal makes up about 0.8% of Covey Capital Advisors LLC’s investment portfolio, making the stock its 26th largest holding. Covey Capital Advisors LLC’s holdings in PayPal were worth $725,000 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. Rosenberg Matthew Hamilton increased its position in PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after buying an additional 125 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in PayPal during the 3rd quarter valued at approximately $26,000. Sugarloaf Wealth Management LLC increased its position in PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares in the last quarter. Planning Capital Management Corp boosted its stake in PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 268 shares during the last quarter. Finally, Financial Management Professionals Inc. boosted its stake in PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 243 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on PYPL shares. Piper Sandler increased their target price on PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. increased their target price on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and increased their target price for the company from $86.00 to $103.00 in a research note on Monday, December 9th. The Goldman Sachs Group increased their target price on PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 target price on shares of PayPal in a research note on Thursday, December 12th. Thirteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.52.

PayPal Trading Down 0.9 %

Shares of PayPal stock opened at $77.63 on Friday. The company has a market capitalization of $76.79 billion, a P/E ratio of 19.36, a P/E/G ratio of 1.28 and a beta of 1.44. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The company has a fifty day moving average of $85.73 and a 200 day moving average of $80.55. PayPal Holdings, Inc. has a fifty-two week low of $56.97 and a fifty-two week high of $93.66.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. The company had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. PayPal’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.48 EPS. On average, sell-side analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

PayPal Company 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.