Rockefeller Capital Management L.P. Sells 191,073 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Rockefeller Capital Management L.P. lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 25.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 567,291 shares of the credit services provider’s stock after selling 191,073 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.06% of PayPal worth $48,416,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Rosenberg Matthew Hamilton boosted its holdings in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after buying an additional 125 shares during the period. Hurley Capital LLC bought a new stake in PayPal during the fourth quarter valued at about $27,000. Sugarloaf Wealth Management LLC grew its position in shares of PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 272 shares during the last quarter. Modus Advisors LLC bought a new position in shares of PayPal in the fourth quarter worth about $37,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of PayPal during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PYPL. Arete Research set a $81.00 price target on PayPal in a research report on Thursday, March 27th. Evercore ISI assumed coverage on shares of PayPal in a research report on Wednesday. They set an “in-line” rating and a $65.00 target price on the stock. Macquarie upped their target price on shares of PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. DZ Bank upgraded shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Friday, February 28th. Finally, Monness Crespi & Hardt cut their price objective on shares of PayPal from $120.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.32.

Insider Activity at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the transaction, the director now owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company insiders.

PayPal Stock Up 3.4 %

NASDAQ:PYPL opened at $62.59 on Friday. The company has a market cap of $61.92 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 1.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The stock’s fifty day moving average price is $69.88 and its two-hundred day moving average price is $79.77. PayPal Holdings, Inc. has a 52-week low of $55.85 and a 52-week high of $93.66.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. The firm had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.48 EPS. On average, analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current 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.