McGuire Investment Group LLC Trims Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

McGuire Investment Group LLC decreased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,938 shares of the credit services provider’s stock after selling 10,072 shares during the period. McGuire Investment Group LLC’s holdings in PayPal were worth $3,005,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bartlett & Co. LLC increased its stake in PayPal by 8.5% in the fourth quarter. Bartlett & Co. LLC now owns 9,414 shares of the credit services provider’s stock worth $594,000 after purchasing an additional 740 shares during the period. Sunbelt Securities Inc. increased its stake in shares of PayPal by 4.9% during the third quarter. Sunbelt Securities Inc. now owns 20,242 shares of the credit services provider’s stock valued at $1,183,000 after buying an additional 942 shares during the period. First Hawaiian Bank increased its stake in shares of PayPal by 8.6% during the fourth quarter. First Hawaiian Bank now owns 6,936 shares of the credit services provider’s stock valued at $426,000 after buying an additional 552 shares during the period. Guggenheim Capital LLC increased its stake in shares of PayPal by 7.9% during the second quarter. Guggenheim Capital LLC now owns 281,753 shares of the credit services provider’s stock valued at $18,801,000 after buying an additional 20,593 shares during the period. Finally, Litman Gregory Wealth Management LLC purchased a new position in shares of PayPal during the third quarter valued at $8,639,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.

Insider Buying and Selling

In related news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of the sale, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PYPL shares. Morgan Stanley reiterated an “equal weight” rating and issued a $66.00 target price (down previously from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. JPMorgan Chase & Co. cut their target price on PayPal from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, February 8th. Wedbush reaffirmed an “outperform” rating and set a $85.00 target price on shares of PayPal in a report on Thursday, February 8th. Bank of America downgraded PayPal from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $77.00 to $66.00 in a report on Wednesday, December 6th. Finally, Wells Fargo & Company lifted their target price on PayPal from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $70.63.

Check Out Our Latest Research Report on PYPL

PayPal Stock Performance

NASDAQ:PYPL opened at $64.77 on Friday. The company’s 50-day moving average price is $60.98 and its 200-day moving average price is $59.34. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.46. The company has a market cap of $69.42 billion, a P/E ratio of 16.87, a P/E/G ratio of 1.53 and a beta of 1.44. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $77.95.

PayPal (NASDAQ:PYPLGet Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.12. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same period last year, the firm posted $1.01 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, sell-side analysts forecast that PayPal Holdings, Inc. will post 3.87 earnings per share for the current fiscal year.

PayPal Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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