Selective Wealth Management Inc. Cuts Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Selective Wealth Management Inc. trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,450 shares of the credit services provider’s stock after selling 349 shares during the quarter. Selective Wealth Management Inc.’s holdings in PayPal were worth $842,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC purchased a new stake in shares of PayPal in the fourth quarter valued at $25,000. Hurley Capital LLC bought a new stake in shares of PayPal during the 4th quarter worth approximately $27,000. Bernard Wealth Management Corp. purchased a new position in PayPal during the 4th quarter valued at $34,000. Pinney & Scofield Inc. bought a new position in PayPal in the 4th quarter valued at $35,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of PayPal during the fourth quarter worth $38,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Trading Up 1.3%

Shares of NASDAQ:PYPL opened at $73.43 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. 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 $71.41 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.27 and a beta of 1.45. The business has a 50-day moving average price of $66.84 and a 200-day moving average price of $76.13.

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

Insider Transactions at PayPal

In related news, Director Deborah M. Messemer sold 3,795 shares of the business’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 sale, the director now owns 13,976 shares of the company’s stock, valued at approximately $1,020,248. The trade was a 21.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PYPL shares. DZ Bank upgraded shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a report on Friday, February 28th. Evercore ISI started coverage on PayPal in a research report on Wednesday, April 9th. They set an “in-line” rating and a $65.00 target price for the company. Truist Financial assumed coverage on PayPal in a research report on Monday, June 2nd. They set a “sell” rating and a $68.00 price target on the stock. Wells Fargo & Company decreased their price objective on PayPal from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Finally, Morgan Stanley increased their target price on shares of PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PayPal currently has an average rating of “Hold” and a consensus price target of $83.29.

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.