Advisors Asset Management Inc. Reduces Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Advisors Asset Management Inc. lessened its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.5% in the 4th quarter, Holdings Channel reports. The fund owned 266,709 shares of the credit services provider’s stock after selling 4,025 shares during the quarter. Advisors Asset Management Inc.’s holdings in PayPal were worth $22,764,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Relyea Zuckerberg Hanson LLC boosted its holdings in PayPal by 113.8% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after purchasing an additional 3,976 shares during the last quarter. World Investment Advisors LLC acquired a new position in PayPal in the 3rd quarter valued at about $387,435,000. Equity Investment Corp boosted its holdings in PayPal by 3.5% in the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after purchasing an additional 67,497 shares during the last quarter. Fortem Financial Group LLC boosted its holdings in PayPal by 28.0% in the 4th quarter. Fortem Financial Group LLC now owns 33,302 shares of the credit services provider’s stock valued at $2,842,000 after purchasing an additional 7,291 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in PayPal by 120.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,555,240 shares of the credit services provider’s stock valued at $125,461,000 after purchasing an additional 849,311 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Insider Transactions at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s 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 in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.14% of the company’s stock.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $69.65 on Tuesday. The business’s fifty day moving average price is $79.56 and its two-hundred day moving average price is $80.99. The stock has a market cap of $68.90 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. PayPal Holdings, Inc. has a one year low of $56.97 and a one year high of $93.66.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data 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. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the firm earned $1.48 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. On average, analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PYPL shares. Wolfe Research upgraded shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective on the stock in a report on Friday, December 13th. Susquehanna upped their price objective on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods upped their price objective on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Bank of America upgraded shares of PayPal from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $86.00 to $103.00 in a report on Monday, December 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of PayPal in a report on Wednesday, February 26th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.03.

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.