Berkshire Bank Lowers Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Berkshire Bank trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 14,001 shares of the credit services provider’s stock after selling 82 shares during the period. Berkshire Bank’s holdings in PayPal were worth $3,643,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of PayPal by 0.4% in the second quarter. Vanguard Group Inc. now owns 93,302,393 shares of the credit services provider’s stock worth $27,195,782,000 after purchasing an additional 359,689 shares during the last quarter. State Street Corp increased its position in shares of PayPal by 1.3% in the second quarter. State Street Corp now owns 45,178,805 shares of the credit services provider’s stock worth $13,168,718,000 after purchasing an additional 560,349 shares during the last quarter. Geode Capital Management LLC increased its position in shares of PayPal by 3.4% in the second quarter. Geode Capital Management LLC now owns 18,736,891 shares of the credit services provider’s stock worth $5,445,102,000 after purchasing an additional 620,061 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of PayPal by 2.7% in the second quarter. Nuveen Asset Management LLC now owns 13,846,385 shares of the credit services provider’s stock worth $4,035,944,000 after purchasing an additional 366,457 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of PayPal by 5.4% in the second quarter. Morgan Stanley now owns 12,068,283 shares of the credit services provider’s stock worth $3,517,662,000 after purchasing an additional 613,441 shares during the last quarter. 78.94% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CAO Jeffrey William Karbowski sold 1,800 shares of PayPal stock in a transaction dated Tuesday, November 16th. The stock was sold at an average price of $215.00, for a total value of $387,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David W. Dorman purchased 1,547 shares of the stock in a transaction dated Tuesday, November 23rd. The stock was bought at an average cost of $186.47 per share, with a total value of $288,469.09. The disclosure for this purchase can be found here. Insiders have sold 34,114 shares of company stock valued at $7,102,758 in the last three months. Insiders own 0.10% of the company’s stock.

Several research analysts recently weighed in on the stock. TheStreet cut shares of PayPal from a “b” rating to a “c+” rating in a research report on Monday. Robert W. Baird decreased their price objective on shares of PayPal from $325.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 9th. Piper Sandler reduced their price target on shares of PayPal from $315.00 to $280.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 9th. Truist Securities reduced their price target on shares of PayPal from $275.00 to $200.00 and set a “hold” rating on the stock in a research report on Tuesday, November 9th. Finally, Morgan Stanley reduced their price target on shares of PayPal from $340.00 to $265.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-five have issued a buy rating to the company. According to data from MarketBeat.com, PayPal currently has an average rating of “Buy” and a consensus target price of $283.13.

PYPL stock traded up $0.66 on Thursday, reaching $188.71. The company’s stock had a trading volume of 13,344,071 shares, compared to its average volume of 8,978,702. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.30. The firm has a market cap of $221.72 billion, a PE ratio of 45.36, a PEG ratio of 3.01 and a beta of 1.11. The business has a fifty day simple moving average of $242.41 and a two-hundred day simple moving average of $265.40. PayPal Holdings, Inc. has a 12-month low of $184.27 and a 12-month high of $310.16.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Monday, November 8th. The credit services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.07 by $0.04. The business had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.24 billion. PayPal had a return on equity of 19.75% and a net margin of 20.09%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 earnings per share. As a group, research analysts anticipate that PayPal Holdings, Inc. will post 3.46 earnings per share for the current fiscal year.

PayPal Profile

PayPal Holdings, Inc engages in the development of technology platform for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The firm manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.

See Also: What are CEFs?

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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