Good Life Advisors LLC Cuts Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Good Life Advisors LLC trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,240 shares of the credit services provider’s stock after selling 345 shares during the period. Good Life Advisors LLC’s holdings in PayPal were worth $383,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PYPL. Moneta Group Investment Advisors LLC boosted its stake in PayPal by 110,462.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock valued at $1,220,431,000 after purchasing an additional 17,120,572 shares during the last quarter. Norges Bank purchased a new position in shares of PayPal in the 4th quarter worth $1,022,333,000. Clearbridge Investments LLC boosted its stake in shares of PayPal by 122.0% in the 1st quarter. Clearbridge Investments LLC now owns 6,230,481 shares of the credit services provider’s stock worth $720,555,000 after buying an additional 3,424,122 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of PayPal by 36.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 10,771,095 shares of the credit services provider’s stock worth $718,755,000 after buying an additional 2,862,766 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of PayPal by 420.6% in the 3rd quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock worth $190,371,000 after buying an additional 2,616,774 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Daiwa Capital Markets downgraded PayPal from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $64.00 to $62.00 in a research note on Tuesday, February 13th. Royal Bank of Canada restated an “outperform” rating and issued a $74.00 price target on shares of PayPal in a research note on Thursday, March 21st. Morgan Stanley reiterated an “equal weight” rating and set a $66.00 target price (down from $118.00) on shares of PayPal in a research report on Tuesday, January 9th. JMP Securities reiterated a “market outperform” rating and set a $68.00 target price on shares of PayPal in a research report on Thursday, February 8th. Finally, Mizuho lowered their target price on PayPal from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, February 8th. Twenty-four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $70.47.

Insider Activity at PayPal

In related news, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the sale, the senior vice president now owns 23,430 shares in the company, valued at $1,420,795.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by company insiders.

PayPal Stock Up 0.6 %

Shares of NASDAQ:PYPL opened at $66.99 on Friday. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $77.95. The business has a 50 day simple moving average of $61.46 and a two-hundred day simple moving average of $59.41. The firm has a market capitalization of $71.80 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29.

PayPal (NASDAQ:PYPL) last announced its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.12. The business had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share. On average, equities analysts predict that PayPal Holdings, Inc. will post 3.95 EPS for the current year.

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.