PayPal Holdings, Inc. (NASDAQ:PYPL) Position Trimmed by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 14.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 682,696 shares of the credit services provider’s stock after selling 110,861 shares during the period. Pictet Asset Management Holding SA’s holdings in PayPal were worth $58,268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of PayPal during the third quarter worth $26,000. Rosenberg Matthew Hamilton raised its holdings in PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after buying an additional 125 shares during the period. Sugarloaf Wealth Management LLC lifted its stake in PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of PayPal in the third quarter worth about $36,000. Finally, Modus Advisors LLC purchased a new position in shares of PayPal in the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PYPL. BTIG Research reiterated a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Wolfe Research raised PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a research report on Friday, December 13th. Piper Sandler decreased their price objective on PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Arete Research downgraded PayPal from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of PayPal in a report on Wednesday, February 5th. Sixteen analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and a consensus price target of $90.03.

Insider Buying and Selling

In other PayPal 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 owns 29,734 shares in the company, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by company insiders.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $65.15 on Friday. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66. The company has a market cap of $64.45 billion, a P/E ratio of 16.25, a P/E/G ratio of 1.27 and a beta of 1.52. The business’s 50 day moving average is $76.28 and its two-hundred day moving average is $80.82. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. The firm had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 EPS. On average, equities analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current 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.