United Services Automobile Association Sells 567 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

United Services Automobile Association trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,216 shares of the credit services provider’s stock after selling 567 shares during the period. United Services Automobile Association’s holdings in PayPal were worth $2,067,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PYPL. Rosenberg Matthew Hamilton raised its position in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 125 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of PayPal during the third quarter worth $26,000. Sugarloaf Wealth Management LLC grew its stake in shares of 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 period. Modus Advisors LLC bought a new stake in PayPal in the fourth quarter valued at about $37,000. Finally, Crowley Wealth Management Inc. acquired a new position in PayPal in the fourth quarter valued at about $39,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the sale, the director now directly owns 29,734 shares of the company’s stock, 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 filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

PayPal Trading Up 0.7 %

NASDAQ PYPL opened at $70.19 on Monday. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $78.19 and a 200-day moving average of $80.92. The company has a market cap of $69.43 billion, a PE ratio of 17.50, a PEG ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results 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. The firm had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.48 earnings per share. On average, equities research analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price for the company in a research report on Friday, December 13th. Piper Sandler decreased their price objective on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Robert W. Baird cut their target price on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and boosted their price target for the company from $86.00 to $103.00 in a report on Monday, December 9th. Finally, BTIG Research restated 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 issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and an average price target of $90.03.

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.