Pacer Advisors Inc. Decreases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Pacer Advisors Inc. decreased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 49.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 123,161 shares of the credit services provider’s stock after selling 122,666 shares during the quarter. Pacer Advisors Inc.’s holdings in PayPal were worth $7,563,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PYPL. State Street Corp grew its position in shares of PayPal by 0.9% during the second quarter. State Street Corp now owns 45,846,969 shares of the credit services provider’s stock worth $3,059,368,000 after buying an additional 423,625 shares in the last quarter. Geode Capital Management LLC lifted its stake in PayPal by 1.1% in the first quarter. Geode Capital Management LLC now owns 20,947,345 shares of the credit services provider’s stock worth $1,586,966,000 after acquiring an additional 235,651 shares during the last quarter. Morgan Stanley grew its holdings in PayPal by 4.5% during the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after acquiring an additional 873,181 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of PayPal by 110,462.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock valued at $1,220,431,000 after purchasing an additional 17,120,572 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of PayPal in the 4th quarter valued at $1,022,333,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PYPL shares. Canaccord Genuity Group lowered their target price on shares of PayPal from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. BMO Capital Markets cut their target price on PayPal from $65.00 to $60.00 and set a “market perform” rating on the stock in a research report on Thursday, February 8th. Wedbush restated an “outperform” rating and set a $85.00 target price on shares of PayPal in a research note on Thursday, February 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $66.00 price target (down from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. Finally, Monness Crespi & Hardt reduced their price objective on shares of PayPal from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, PayPal presently has a consensus rating of “Hold” and an average target price of $70.47.

Insiders Place Their Bets

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 value of $466,079.04. Following the completion of the sale, the senior vice president now owns 23,430 shares in the company, valued at $1,420,795.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $66.57 on Thursday. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $77.95. The company has a 50-day moving average price of $61.32 and a 200 day moving average price of $59.36. The company has a market cap of $71.35 billion, a P/E ratio of 17.34, a PEG ratio of 1.51 and a beta of 1.44. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, beating the consensus estimate of $1.36 by $0.12. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The business had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period last year, the firm earned $1.01 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Research analysts predict that PayPal Holdings, Inc. will post 3.95 earnings per share for the current year.

PayPal Company Profile

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.