E. Ohman J or Asset Management AB Sells 2,500 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

E. Ohman J or Asset Management AB cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,290 shares of the credit services provider’s stock after selling 2,500 shares during the period. E. Ohman J or Asset Management AB’s holdings in PayPal were worth $2,694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of PayPal by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider’s stock worth $1,849,884,000 after buying an additional 271,836 shares during the last quarter. FMR LLC raised its stake in shares of PayPal by 12.9% during the fourth 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 during the last quarter. Capital Research Global Investors raised its stake in shares of PayPal by 108.2% during the fourth 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 during the last quarter. Norges Bank bought a new stake in shares of PayPal during the fourth quarter worth approximately $1,086,508,000. Finally, Northern Trust Corp raised its stake in shares of PayPal by 19.0% during the fourth quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider’s stock worth $892,953,000 after buying an additional 1,669,908 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PYPL has been the subject of a number of recent research reports. Truist Financial initiated coverage on shares of PayPal in a research note on Monday, June 2nd. They set a “sell” rating and a $68.00 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods decreased their price objective on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, March 31st. UBS Group decreased their price objective on shares of PayPal from $88.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. Finally, Bank of America decreased their price objective on shares of PayPal from $103.00 to $93.00 and set a “buy” rating for the company in a report on Monday, April 14th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $83.29.

Insider Activity at PayPal

In related news, Director Deborah M. Messemer sold 3,795 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.00, for a total value of $277,035.00. Following the completion of the transaction, the director now owns 13,976 shares of the company’s stock, valued at approximately $1,020,248. This trade represents a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is owned by insiders.

PayPal Stock Up 1.3%

PayPal stock opened at $73.43 on Friday. The company has a market cap of $71.41 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66. The company has a fifty day simple moving average of $66.84 and a 200 day simple moving average of $76.25. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.17. The business had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 earnings per share. Research analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

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.