Edgestream Partners L.P. Cuts Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Edgestream Partners L.P. cut its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 53.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,495 shares of the credit services provider’s stock after selling 18,869 shares during the quarter. Edgestream Partners L.P.’s holdings in PayPal were worth $1,408,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd purchased a new position in PayPal during the third quarter worth about $26,000. Rosenberg Matthew Hamilton boosted its holdings in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its holdings in PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. Planning Capital Management Corp boosted its holdings in PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 268 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new position in PayPal during the third quarter worth about $36,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PYPL. Citigroup reaffirmed an “outperform” rating on shares of PayPal in a research report on Wednesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of PayPal in a research report on Thursday, December 12th. Piper Sandler lowered their price objective on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $86.00 to $103.00 in a research report on Monday, December 9th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Fourteen 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.03.

PayPal Price Performance

PYPL stock opened at $68.16 on Tuesday. 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 one year low of $56.97 and a one year high of $93.66. The stock has a market cap of $67.43 billion, a PE ratio of 17.00, a P/E/G ratio of 1.27 and a beta of 1.52. The firm has a 50 day simple moving average of $81.40 and a two-hundred day simple moving average of $81.11.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results 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. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the previous year, the company earned $1.48 EPS. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal 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.