PNC Financial Services Group Inc. Lowers Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

PNC Financial Services Group Inc. reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 351,982 shares of the credit services provider’s stock after selling 970 shares during the quarter. PNC Financial Services Group Inc.’s holdings in PayPal were worth $30,042,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PYPL. Portside Wealth Group LLC raised its position in PayPal by 16.5% in the 3rd quarter. Portside Wealth Group LLC now owns 4,698 shares of the credit services provider’s stock valued at $367,000 after buying an additional 664 shares during the last quarter. Leavell Investment Management Inc. raised its position in PayPal by 63.7% in the 3rd quarter. Leavell Investment Management Inc. now owns 18,011 shares of the credit services provider’s stock valued at $1,405,000 after buying an additional 7,010 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in PayPal in the 3rd quarter valued at $463,000. SpiderRock Advisors LLC increased its position in shares of PayPal by 39.7% during the 3rd quarter. SpiderRock Advisors LLC now owns 27,100 shares of the credit services provider’s stock valued at $2,115,000 after purchasing an additional 7,697 shares during the last quarter. Finally, United Bank increased its position in shares of PayPal by 9.7% during the 3rd quarter. United Bank now owns 8,941 shares of the credit services provider’s stock valued at $698,000 after purchasing an additional 794 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PYPL. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research report on Wednesday, February 26th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of PayPal in a research report on Wednesday, February 5th. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Robert W. Baird decreased their target price on PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Finally, Morgan Stanley raised their target price on PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and a consensus price target of $90.03.

PayPal Stock Performance

Shares of PYPL opened at $70.48 on Monday. The company has a market cap of $69.72 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average price of $81.75 and a 200-day moving average price of $81.13. PayPal Holdings, Inc. has a 12-month low of $56.97 and a 12-month high of $93.66.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the company posted $1.48 EPS. As a group, equities analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now directly owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

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.