MainStreet Investment Advisors LLC Sells 407 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

MainStreet Investment Advisors LLC decreased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,005 shares of the credit services provider’s stock after selling 407 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in PayPal were worth $598,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PYPL. Norges Bank bought a new position in shares of PayPal during the 4th quarter worth $1,086,508,000. Capital Research Global Investors grew its position in shares of PayPal by 108.2% during the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock worth $1,529,823,000 after buying an additional 9,313,783 shares in the last quarter. Artisan Partners Limited Partnership grew its position in shares of PayPal by 284.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock worth $666,100,000 after buying an additional 5,772,198 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of PayPal by 174.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after buying an additional 2,689,162 shares in the last quarter. Finally, FMR LLC grew its position in shares of PayPal by 12.9% during the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock worth $1,615,134,000 after buying an additional 2,161,582 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Trading Down 0.0%

Shares of NASDAQ:PYPL opened at $72.29 on Wednesday. PayPal Holdings, Inc. has a 52-week low of $55.85 and a 52-week high of $93.66. The stock has a market cap of $70.30 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 1.27 and a beta of 1.51. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $65.79 and a 200-day moving average price of $77.57.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.17. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm had revenue of $7.79 billion during the quarter, compared to analysts’ expectations of $7.84 billion. During the same period last year, the business posted $1.08 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PYPL. Barclays dropped their price target on PayPal from $110.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. DZ Bank raised PayPal from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research report on Friday, February 28th. BMO Capital Markets dropped their price objective on PayPal from $83.00 to $79.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 30th. Arete Research set a $81.00 price objective on PayPal in a research report on Thursday, March 27th. Finally, Evercore ISI began coverage on PayPal in a research report on Wednesday, April 9th. They set an “in-line” rating and a $65.00 price objective on the stock. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.68.

Insider Transactions at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. This trade represents a 7.60% 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 hyperlink. Company insiders own 0.14% of the company’s stock.

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.