Jacksonville Wealth Management LLC Decreases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Jacksonville Wealth Management LLC reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,514 shares of the credit services provider’s stock after selling 359 shares during the period. Jacksonville Wealth Management LLC’s holdings in PayPal were worth $360,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC purchased a new position in PayPal in the 4th quarter worth approximately $25,000. Hurley Capital LLC purchased a new position in PayPal in the 4th quarter worth approximately $27,000. Bernard Wealth Management Corp. purchased a new position in PayPal in the 4th quarter worth approximately $34,000. Pinney & Scofield Inc. purchased a new position in PayPal in the 4th quarter worth approximately $35,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in PayPal during the 4th quarter valued at $38,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Trading Up 0.3%

Shares of PYPL stock opened at $74.81 on Friday. The firm has a market capitalization of $72.76 billion, a PE ratio of 18.66, a PEG ratio of 1.27 and a beta of 1.45. The stock has a fifty day simple moving average of $67.88 and a two-hundred day simple moving average of $75.93. 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 52-week low of $55.85 and a 52-week high of $93.66.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.17. The firm had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.84 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 earnings per share. On average, analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Activity

In other news, insider Suzan Kereere sold 4,162 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $304,824.88. Following the completion of the transaction, the insider now owns 48,483 shares in the company, valued at $3,550,894.92. This trade represents a 7.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Deborah M. Messemer sold 3,795 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the transaction, the director now directly owns 13,976 shares of the company’s stock, valued at approximately $1,020,248. The trade was a 21.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,796 shares of company stock worth $863,028 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Wednesday, April 30th. Seaport Res Ptn cut PayPal from a “hold” rating to a “strong sell” rating in a report on Thursday, April 17th. Arete Research set a $81.00 price target on PayPal in a report on Thursday, March 27th. Truist Financial assumed coverage on PayPal in a report on Monday, June 2nd. They set a “sell” rating and a $68.00 price target on the stock. Finally, Evercore ISI assumed coverage on PayPal in a report on Wednesday, April 9th. They set an “in-line” rating and a $65.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $83.29.

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.