Stratos Wealth Partners LTD. trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 6.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,616 shares of the credit services provider’s stock after selling 1,832 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in PayPal were worth $2,127,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC lifted its stake in shares of PayPal by 15.8% during the 1st quarter. AQR Capital Management LLC now owns 3,501,936 shares of the credit services provider’s stock worth $224,001,000 after purchasing an additional 476,763 shares during the last quarter. Thompson Investment Management Inc. lifted its stake in shares of PayPal by 2.8% during the 2nd quarter. Thompson Investment Management Inc. now owns 154,991 shares of the credit services provider’s stock worth $11,519,000 after purchasing an additional 4,165 shares during the last quarter. Kathmere Capital Management LLC purchased a new stake in shares of PayPal during the 2nd quarter worth $325,000. Allianz SE lifted its stake in shares of PayPal by 281.8% during the 1st quarter. Allianz SE now owns 30,338 shares of the credit services provider’s stock worth $1,980,000 after purchasing an additional 22,392 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of PayPal during the 1st quarter worth $529,264,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.
PayPal Trading Up 2.1%
PayPal stock opened at $67.41 on Monday. The stock has a 50-day moving average of $68.89 and a two-hundred day moving average of $69.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.33 and a current ratio of 1.33. PayPal Holdings, Inc. has a one year low of $55.85 and a one year high of $93.66. The stock has a market cap of $64.40 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.04 and a beta of 1.44.
Wall Street Analyst Weigh In
PYPL has been the subject of a number of analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $96.00 price objective on shares of PayPal in a research note on Wednesday, July 30th. Barclays restated an “overweight” rating on shares of PayPal in a research note on Tuesday, July 29th. Morgan Stanley restated a “positive” rating on shares of PayPal in a research note on Wednesday, July 30th. Seaport Res Ptn upgraded PayPal from a “strong sell” rating to a “hold” rating in a research note on Monday, July 14th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of PayPal in a research note on Tuesday, July 29th. Sixteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $83.44.
View Our Latest Research Report on PayPal
Insider Activity
In other news, EVP Diego Scotti sold 3,838 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $69.12, for a total value of $265,282.56. Following the transaction, the executive vice president directly owned 16,989 shares of the company’s stock, valued at approximately $1,174,279.68. This represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suzan Kereere sold 4,162 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $69.39, for a total value of $288,801.18. Following the completion of the transaction, the insider directly owned 48,483 shares in the company, valued at $3,364,235.37. This represents a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,102 shares of company stock valued at $1,046,607. Company insiders own 0.08% of the company’s stock.
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.
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