Redwood Grove Capital LLC Has $15.65 Million Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Redwood Grove Capital LLC reduced its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 23.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 183,404 shares of the credit services provider’s stock after selling 56,300 shares during the period. PayPal makes up about 4.8% of Redwood Grove Capital LLC’s investment portfolio, making the stock its 10th largest position. Redwood Grove Capital LLC’s holdings in PayPal were worth $15,654,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Relyea Zuckerberg Hanson LLC lifted its position in shares of PayPal by 113.8% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock worth $638,000 after acquiring an additional 3,976 shares during the period. J. Goldman & Co LP lifted its position in PayPal by 11.9% in the fourth quarter. J. Goldman & Co LP now owns 261,322 shares of the credit services provider’s stock worth $22,304,000 after purchasing an additional 27,812 shares during the period. Nikko Asset Management Americas Inc. lifted its position in 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 worth $59,489,000 after purchasing an additional 18,172 shares during the period. ExodusPoint Capital Management LP boosted its stake in PayPal by 223.1% during the fourth quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider’s stock worth $22,622,000 after buying an additional 183,011 shares in the last quarter. Finally, StoneX Group Inc. raised its stake in shares of PayPal by 70.4% in the 4th quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider’s stock valued at $2,326,000 after buying an additional 11,260 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

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 sale, the director now directly owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This represents a 7.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on PYPL. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Wednesday, April 30th. Macquarie reduced their target price on shares of PayPal from $117.00 to $95.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Wells Fargo & Company dropped their target price on shares of PayPal from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Finally, Arete Research set a $81.00 price objective on shares of PayPal in a research note on Thursday, March 27th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.68.

PayPal Stock Up 0.5%

Shares of PYPL stock opened at $72.68 on Thursday. 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 Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The stock has a market cap of $70.68 billion, a P/E ratio of 18.12, a P/E/G ratio of 1.27 and a beta of 1.51. The company has a 50 day simple moving average of $65.83 and a two-hundred day simple moving average of $77.54.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.17. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $7.79 billion during the quarter, compared to analysts’ expectations of $7.84 billion. During the same period in the prior year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

PayPal 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.