Massachusetts Wealth Management Trims Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Massachusetts Wealth Management cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,592 shares of the credit services provider’s stock after selling 200 shares during the quarter. Massachusetts Wealth Management’s holdings in PayPal were worth $442,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PYPL. Fluent Financial LLC acquired a new stake in shares of PayPal during the first quarter worth $459,000. DMC Group LLC raised its position in shares of PayPal by 21.7% in the first quarter. DMC Group LLC now owns 7,470 shares of the credit services provider’s stock worth $500,000 after acquiring an additional 1,334 shares during the period. Norden Group LLC raised its position in shares of PayPal by 197.3% in the first quarter. Norden Group LLC now owns 82,620 shares of the credit services provider’s stock worth $5,535,000 after acquiring an additional 54,832 shares during the period. Bourgeon Capital Management LLC raised its position in shares of PayPal by 5.0% in the first quarter. Bourgeon Capital Management LLC now owns 90,742 shares of the credit services provider’s stock worth $6,079,000 after acquiring an additional 4,286 shares during the period. Finally, Albion Financial Group UT increased its stake in shares of PayPal by 7.8% during the first quarter. Albion Financial Group UT now owns 4,208 shares of the credit services provider’s stock worth $282,000 after purchasing an additional 305 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $69.00 price objective on shares of PayPal in a research note on Monday, June 24th. TD Cowen boosted their target price on shares of PayPal from $58.00 to $68.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Tuesday, April 30th. Monness Crespi & Hardt upped their price objective on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Finally, Mizuho upgraded shares of PayPal from a “neutral” rating to a “buy” rating and increased their target price for the stock from $68.00 to $90.00 in a report on Thursday, May 30th. Twenty research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.82.

Insider Activity

In other news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $61.65, for a total value of $272,616.30. Following the sale, the director now owns 13,976 shares in the company, valued at approximately $861,620.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by corporate insiders.

PayPal Stock Performance

Shares of NASDAQ:PYPL traded up $0.67 during trading on Thursday, reaching $59.64. The stock had a trading volume of 6,908,317 shares, compared to its average volume of 13,210,254. The stock has a fifty day simple moving average of $62.96 and a two-hundred day simple moving average of $62.39. The firm has a market capitalization of $62.39 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 0.96 and a beta of 1.42. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $76.54.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts anticipate that PayPal Holdings, Inc. will post 4.14 earnings per share for the current fiscal 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.