Fisher Asset Management LLC Sells 31,953 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Fisher Asset Management LLC lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 425,654 shares of the credit services provider’s stock after selling 31,953 shares during the quarter. Fisher Asset Management LLC’s holdings in PayPal were worth $26,139,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PYPL. Nordea Investment Management AB grew its position in PayPal by 420.6% during 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 acquiring an additional 2,616,774 shares during the last quarter. FMR LLC grew its holdings in shares of PayPal by 29.5% during the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock worth $404,367,000 after purchasing an additional 1,575,930 shares during the last quarter. LSV Asset Management increased its stake in shares of PayPal by 271.6% in the third quarter. LSV Asset Management now owns 1,533,300 shares of the credit services provider’s stock valued at $89,637,000 after buying an additional 1,120,700 shares during the period. Morgan Stanley raised its holdings in PayPal by 4.5% in the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after buying an additional 873,181 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in PayPal by 56.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,395,312 shares of the credit services provider’s stock worth $140,030,000 after buying an additional 864,684 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PayPal

In other PayPal news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the transaction, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on PYPL. Wells Fargo & Company upped their price target on shares of PayPal from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday. Susquehanna raised their target price on PayPal from $61.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Oppenheimer reiterated a “market perform” rating on shares of PayPal in a research report on Thursday, January 25th. UBS Group lifted their price objective on PayPal from $63.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research report on Tuesday, April 30th. Twenty-five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $72.73.

PayPal Trading Down 1.9 %

NASDAQ:PYPL opened at $65.70 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.29. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $76.54. The company has a market cap of $68.73 billion, a PE ratio of 16.55, a PEG ratio of 1.20 and a beta of 1.41. The firm has a 50-day moving average of $63.69 and a 200-day moving average of $60.50.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 EPS 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 company had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities research analysts expect that PayPal Holdings, Inc. will post 4.13 EPS 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.