PayPal Holdings, Inc. (NASDAQ:PYPL) is West Tower Group LLC’s 8th Largest Position

West Tower Group LLC lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 19.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,730 shares of the credit services provider’s stock after selling 3,313 shares during the period. PayPal makes up about 2.6% of West Tower Group LLC’s investment portfolio, making the stock its 8th biggest position. West Tower Group LLC’s holdings in PayPal were worth $1,172,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Enhancing Capital LLC acquired a new stake in shares of PayPal in the 4th quarter worth approximately $1,007,000. Xponance Inc. grew its holdings in shares of PayPal by 0.3% in the 4th quarter. Xponance Inc. now owns 149,097 shares of the credit services provider’s stock worth $12,725,000 after acquiring an additional 424 shares during the period. Generali Asset Management SPA SGR acquired a new stake in PayPal during the 4th quarter valued at $3,115,000. Evoke Wealth LLC grew its holdings in PayPal by 44.0% during the 4th quarter. Evoke Wealth LLC now owns 3,964 shares of the credit services provider’s stock valued at $338,000 after buying an additional 1,212 shares during the last quarter. Finally, Horizon Investments LLC grew its holdings in PayPal by 6.0% during the 4th quarter. Horizon Investments LLC now owns 24,566 shares of the credit services provider’s stock valued at $2,097,000 after buying an additional 1,398 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Trading Down 1.1 %

NASDAQ:PYPL opened at $68.88 on Wednesday. The business’s 50-day moving average is $79.18 and its two-hundred day moving average is $80.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66. The firm has a market capitalization of $68.14 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the company posted $1.48 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. Research analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PYPL. Macquarie increased their target price on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a report on Monday, February 10th. Citigroup reiterated an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price on the stock in a report on Friday, December 13th. Robert W. Baird lowered their target price on PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Finally, Piper Sandler decreased their price objective on PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.03.

Insider Activity

In other news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

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.