PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust trimmed its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 34.4% during the fourth quarter, Holdings Channel reports. The firm owned 4,322 shares of the credit services provider’s stock after selling 2,270 shares during the quarter. FineMark National Bank & Trust’s holdings in PayPal were worth $369,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Relyea Zuckerberg Hanson LLC grew its position 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 acquiring an additional 3,976 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of PayPal in the third quarter valued at approximately $387,435,000. Nikko Asset Management Americas Inc. grew its holdings in shares of PayPal by 2.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider’s stock valued at $59,489,000 after purchasing an additional 18,172 shares in the last quarter. Fortem Financial Group LLC increased its stake in PayPal by 28.0% during the 4th quarter. Fortem Financial Group LLC now owns 33,302 shares of the credit services provider’s stock worth $2,842,000 after buying an additional 7,291 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in PayPal by 120.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,555,240 shares of the credit services provider’s stock worth $125,461,000 after buying an additional 849,311 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Performance

Shares of PYPL stock opened at $69.97 on Thursday. The stock’s 50-day moving average price is $77.21 and its 200 day moving average price is $80.85. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $69.22 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $8.27 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insiders Place Their Bets

In other news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Robert W. Baird cut their price objective on PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a report on Wednesday, February 26th. Susquehanna increased their price target on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research report on Monday, January 6th. Bank of America raised PayPal from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $86.00 to $103.00 in a research report on Monday, December 9th. Finally, Citigroup reaffirmed an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.