Wesbanco Bank Inc. Sells 37,220 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Wesbanco Bank Inc. trimmed its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 20.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 143,418 shares of the credit services provider’s stock after selling 37,220 shares during the quarter. Wesbanco Bank Inc.’s holdings in PayPal were worth $12,241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. increased its position in PayPal by 35.4% in the 2nd quarter. Sei Investments Co. now owns 147,259 shares of the credit services provider’s stock valued at $8,545,000 after acquiring an additional 38,488 shares during the period. Gabelli Funds LLC boosted its position in shares of PayPal by 10.1% during the 2nd quarter. Gabelli Funds LLC now owns 36,310 shares of the credit services provider’s stock valued at $2,107,000 after purchasing an additional 3,320 shares in the last quarter. Public Sector Pension Investment Board grew its stake in PayPal by 49.5% during the second quarter. Public Sector Pension Investment Board now owns 46,228 shares of the credit services provider’s stock worth $2,683,000 after purchasing an additional 15,316 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of PayPal by 56.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 191,555 shares of the credit services provider’s stock worth $11,116,000 after buying an additional 68,883 shares in the last quarter. Finally, Insigneo Advisory Services LLC grew its position in shares of PayPal by 11.3% during the 2nd quarter. Insigneo Advisory Services LLC now owns 22,047 shares of the credit services provider’s stock worth $1,333,000 after buying an additional 2,239 shares during the period. Institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PYPL shares. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Macquarie upped their price objective on shares of PayPal from $95.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Phillip Securities reiterated an “accumulate” rating and issued a $90.00 target price (up previously from $80.00) on shares of PayPal in a report on Friday, November 1st. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 target price on shares of PayPal in a research report on Thursday, December 12th. Finally, UBS Group raised their price objective on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and an average target price of $89.32.

PayPal Trading Up 0.1 %

Shares of PYPL opened at $89.85 on Thursday. The firm’s 50-day moving average price is $87.57 and its 200-day moving average price is $77.41. The firm has a market capitalization of $90.08 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 1.54 and a beta of 1.44. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 1-year low of $55.77 and a 1-year high of $93.66.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the previous year, the firm posted $0.97 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.57 EPS for the current 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.