PayPal Holdings, Inc. (NASDAQ:PYPL) Holdings Cut by Sienna Gestion

Sienna Gestion lessened its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 104,673 shares of the credit services provider’s stock after selling 6,365 shares during the quarter. Sienna Gestion’s holdings in PayPal were worth $6,639,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Allianz SE raised its holdings in shares of PayPal by 281.8% during the first quarter. Allianz SE now owns 30,338 shares of the credit services provider’s stock valued at $1,980,000 after buying an additional 22,392 shares during the last quarter. J. Goldman & Co LP raised its holdings in shares of PayPal by 11.9% during the fourth quarter. J. Goldman & Co LP now owns 261,322 shares of the credit services provider’s stock valued at $22,304,000 after buying an additional 27,812 shares during the last quarter. Nuveen LLC bought a new stake in shares of PayPal during the first quarter valued at approximately $529,264,000. Proffitt & Goodson Inc. acquired a new position in shares of PayPal during the first quarter valued at approximately $535,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of PayPal by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,634,664 shares of the credit services provider’s stock valued at $651,619,000 after acquiring an additional 1,114,858 shares during the period. Institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

PYPL has been the topic of a number of research analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $96.00 price objective on shares of PayPal in a research note on Wednesday, July 30th. Citigroup reiterated a “buy” rating on shares of PayPal in a research note on Tuesday, July 29th. BMO Capital Markets reiterated a “market perform” rating on shares of PayPal in a research note on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft set a $75.00 price objective on shares of PayPal in a research note on Tuesday, July 29th. Finally, Wall Street Zen upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $85.00.

Insider Activity at PayPal

In other news, EVP Diego Scotti sold 3,839 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $281,168.36. Following the completion of the transaction, the executive vice president owned 16,989 shares of the company’s stock, valued at approximately $1,244,274.36. This represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suzan Kereere sold 4,162 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $304,824.88. Following the transaction, the insider directly owned 48,483 shares of the company’s stock, valued at $3,550,894.92. This represents a 7.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,736 shares of company stock worth $1,620,835 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

PayPal Stock Up 3.9%

PayPal stock opened at $70.63 on Thursday. The firm has a market cap of $67.48 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 1.05 and a beta of 1.42. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.33 and a quick ratio of 1.33. PayPal Holdings, Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $93.66. The firm has a fifty day moving average price of $72.70 and a two-hundred day moving average price of $71.21.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.10. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.08 billion. PayPal had a net margin of 14.49% and a return on equity of 25.35%. During the same quarter in the previous year, the business earned $1.19 EPS. As a group, analysts forecast that PayPal Holdings, Inc. will post 5.03 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.