Sound Shore Management Inc. CT Sells 19,296 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Sound Shore Management Inc. CT cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,058,267 shares of the credit services provider’s stock after selling 19,296 shares during the period. PayPal accounts for approximately 3.0% of Sound Shore Management Inc. CT’s portfolio, making the stock its 8th largest position. Sound Shore Management Inc. CT’s holdings in PayPal were worth $90,323,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PYPL. FMR LLC boosted its position in shares of PayPal by 86.3% in the third 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 during the last quarter. World Investment Advisors LLC acquired a new stake in shares of PayPal in the third quarter worth approximately $387,435,000. Robeco Institutional Asset Management B.V. boosted its position in shares of PayPal by 174.1% in the fourth 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 during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of PayPal in the fourth quarter worth approximately $135,537,000. Finally, Contrarius Group Holdings Ltd purchased a new position in PayPal in the fourth quarter valued at approximately $81,342,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PYPL has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price target on shares of PayPal in a report on Thursday, December 12th. Piper Sandler cut their price target on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. DZ Bank upgraded shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a report on Friday, February 28th. Citigroup restated an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of PayPal in a report on Tuesday, February 4th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $90.03.

PayPal Stock Performance

PayPal stock opened at $70.19 on Monday. The company has a market cap of $69.43 billion, a PE ratio of 17.50, a P/E/G ratio of 1.27 and a beta of 1.52. The company has a fifty day moving average price of $78.19 and a two-hundred day moving average price of $80.92. 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.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The firm 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%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.48 earnings per share. Research analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share 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.