Parsons Capital Management Inc. RI Has $488,000 Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Parsons Capital Management Inc. RI decreased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,283 shares of the credit services provider’s stock after selling 657 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in PayPal were worth $488,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in PayPal during the 4th quarter worth about $25,000. Sutton Wealth Advisors Inc. boosted its position in PayPal by 115.0% during the 3rd quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 237 shares during the period. American National Bank acquired a new stake in PayPal during the 1st quarter worth about $27,000. Private Wealth Management Group LLC acquired a new stake in PayPal during the 4th quarter worth about $29,000. Finally, Register Financial Advisors LLC acquired a new stake in PayPal during the 1st quarter worth about $30,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Performance

NASDAQ PYPL traded up $1.86 during trading on Friday, hitting $65.96. The company’s stock had a trading volume of 14,190,444 shares, compared to its average volume of 9,031,016. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average price of $62.87 and a 200 day moving average price of $60.19. The firm has a market cap of $69.43 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 1.23 and a beta of 1.45. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $76.54.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.12. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the firm earned $1.01 EPS. PayPal’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on PYPL. William Blair restated an “outperform” rating on shares of PayPal in a research report on Thursday, February 8th. Mizuho decreased their price objective on PayPal from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. UBS Group raised their price objective on PayPal from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Daiwa Capital Markets lowered PayPal from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $64.00 to $62.00 in a research report on Tuesday, February 13th. Finally, Argus downgraded PayPal from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $70.47.

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the sale, the senior vice president now owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by insiders.

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.