Oppenheimer Asset Management Inc. Sells 1,128 Shares of PayPal Holdings, Inc. $PYPL

Oppenheimer Asset Management Inc. reduced its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 106,991 shares of the credit services provider’s stock after selling 1,128 shares during the period. Oppenheimer Asset Management Inc.’s holdings in PayPal were worth $7,952,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in PayPal by 0.3% during the first quarter. Vanguard Group Inc. now owns 86,221,849 shares of the credit services provider’s stock valued at $5,625,976,000 after acquiring an additional 276,339 shares during the period. Deutsche Bank AG boosted its stake in PayPal by 19.1% during the 1st quarter. Deutsche Bank AG now owns 11,238,218 shares of the credit services provider’s stock valued at $733,294,000 after purchasing an additional 1,798,330 shares during the period. Invesco Ltd. boosted its stake in PayPal by 14.9% during the 1st quarter. Invesco Ltd. now owns 9,516,070 shares of the credit services provider’s stock valued at $620,924,000 after purchasing an additional 1,232,155 shares during the period. Goldman Sachs Group Inc. boosted its stake in PayPal by 44.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,559,376 shares of the credit services provider’s stock valued at $558,499,000 after purchasing an additional 2,638,815 shares during the period. Finally, Nuveen LLC bought a new stake in PayPal during the 1st quarter valued at approximately $529,264,000. 68.32% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other PayPal news, insider Suzan Kereere sold 4,162 shares of PayPal stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $69.39, for a total transaction of $288,801.18. Following the completion of the transaction, the insider directly owned 48,483 shares of the company’s stock, valued at approximately $3,364,235.37. This trade represents a 7.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Chris Natali sold 7,102 shares of PayPal stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $69.35, for a total value of $492,523.70. The disclosure for this sale can be found here. Insiders sold 15,102 shares of company stock worth $1,046,607 in the last 90 days. 0.08% of the stock is owned by company insiders.

PayPal Price Performance

NASDAQ:PYPL opened at $70.25 on Tuesday. The company has a 50-day moving average of $68.95 and a 200-day moving average of $69.92. The company has a market capitalization of $67.12 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.08 and a beta of 1.44. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66. 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 (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 29th. The credit services provider reported $1.40 EPS 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 analysts’ expectations of $8.08 billion. PayPal had a net margin of 14.49% and a return on equity of 25.35%. During the same quarter last year, the company earned $1.19 earnings per share. As a group, equities research analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several research reports. Wells Fargo & Company raised PayPal to a “hold” rating in a research report on Wednesday, October 22nd. The Goldman Sachs Group set a $70.00 price target on shares of PayPal and gave the company a “sell” rating in a report on Monday, October 13th. Rothschild & Co Redburn increased their price target on shares of PayPal from $66.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, September 16th. Macquarie reiterated an “outperform” rating and issued a $95.00 target price on shares of PayPal in a research note on Wednesday, July 30th. Finally, Morgan Stanley reiterated a “positive” rating on shares of PayPal in a research note on Wednesday, July 30th. Fifteen analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $82.46.

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.