Oak Associates Ltd. OH Lowers Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Oak Associates Ltd. OH reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,881 shares of the credit services provider’s stock after selling 540 shares during the quarter. Oak Associates Ltd. OH’s holdings in PayPal were worth $1,355,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PYPL. Relyea Zuckerberg Hanson LLC grew its position in PayPal by 113.8% during the fourth 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 during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of PayPal by 2.7% during the 4th 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 during the last quarter. ExodusPoint Capital Management LP grew its holdings in shares of PayPal by 223.1% during the 4th quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider’s stock valued at $22,622,000 after purchasing an additional 183,011 shares during the last quarter. StoneX Group Inc. raised its position in PayPal by 70.4% in the 4th quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider’s stock worth $2,326,000 after purchasing an additional 11,260 shares during the period. Finally, Fortem Financial Group LLC lifted its stake in PayPal by 28.0% in the fourth quarter. Fortem Financial Group LLC now owns 33,302 shares of the credit services provider’s stock worth $2,842,000 after purchasing an additional 7,291 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on PYPL. Evercore ISI assumed coverage on PayPal in a report on Wednesday. They issued an “in-line” rating and a $65.00 price objective on the stock. DZ Bank upgraded PayPal from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Friday, February 28th. Susquehanna increased their price objective on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods lowered their price target on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, March 31st. Finally, Piper Sandler dropped their price target on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Fifteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.32.

Insider Activity at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the transaction, the director now owns 29,734 shares of the company’s stock, 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 is accessible through this hyperlink. 0.14% of the stock is currently owned by insiders.

PayPal Stock Performance

NASDAQ:PYPL opened at $60.56 on Friday. The stock has a 50-day moving average price of $70.19 and a 200 day moving average price of $79.87. The stock has a market capitalization of $59.91 billion, a P/E ratio of 15.10, a P/E/G ratio of 1.27 and a beta of 1.60. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. PayPal’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.48 earnings per share. Equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal 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.