PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Pitti Group Wealth Management LLC

Pitti Group Wealth Management LLC lessened its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 9,912 shares of the credit services provider’s stock after selling 673 shares during the period. Pitti Group Wealth Management LLC’s holdings in PayPal were worth $846,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PYPL. FMR LLC raised its position in shares of PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of PayPal during the 3rd quarter worth about $387,435,000. Robeco Institutional Asset Management B.V. raised its position in shares of PayPal by 174.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after acquiring an additional 2,689,162 shares in the last quarter. Raymond James Financial Inc. acquired a new position in PayPal during the fourth quarter worth approximately $135,537,000. Finally, Primecap Management Co. CA increased its position in PayPal by 21.6% during the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after buying an additional 1,069,356 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Performance

Shares of NASDAQ:PYPL opened at $68.95 on Monday. The firm has a market capitalization of $68.21 billion, a PE ratio of 17.19, a P/E/G ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The business has a 50-day moving average of $79.96 and a two-hundred day moving average of $81.02.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. The business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.48 EPS. As a group, research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. DZ Bank raised PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Friday, February 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of PayPal in a research report on Tuesday, February 4th. BTIG Research reissued a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. Finally, Wolfe Research raised 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. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.03.

Insider Buying and Selling

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

PayPal 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.