Franklin Street Advisors Inc. NC Sells 727 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Franklin Street Advisors Inc. NC reduced its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,865 shares of the credit services provider’s stock after selling 727 shares during the period. Franklin Street Advisors Inc. NC’s holdings in PayPal were worth $513,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PYPL. Norges Bank bought a new position in PayPal during the 4th quarter valued at about $1,086,508,000. Capital Research Global Investors increased its position in PayPal by 108.2% in the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock valued at $1,529,823,000 after acquiring an additional 9,313,783 shares in the last quarter. Artisan Partners Limited Partnership increased its position in PayPal by 284.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock valued at $666,100,000 after acquiring an additional 5,772,198 shares in the last quarter. FMR LLC increased its position in PayPal by 12.9% in the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock valued at $1,615,134,000 after acquiring an additional 2,161,582 shares in the last quarter. Finally, Northern Trust Corp increased its position in PayPal by 19.0% in the 4th quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider’s stock valued at $892,953,000 after acquiring an additional 1,669,908 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

PayPal Stock Up 1.6%

Shares of NASDAQ PYPL opened at $74.76 on Wednesday. The stock has a market cap of $72.71 billion, a P/E ratio of 18.64, a P/E/G ratio of 1.27 and a beta of 1.45. The firm has a 50 day moving average price of $67.23 and a 200 day moving average price of $76.03. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. PayPal Holdings, Inc. has a 52-week low of $55.85 and a 52-week high of $93.66.

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

Insider Buying and Selling at PayPal

In other PayPal news, insider Suzan Kereere sold 4,162 shares of PayPal stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $304,824.88. Following the transaction, the insider now owns 48,483 shares of the company’s stock, valued at approximately $3,550,894.92. The trade was a 7.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Diego Scotti sold 3,839 shares of PayPal stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $281,168.36. Following the completion of the transaction, the executive vice president now directly owns 16,989 shares in the company, valued at approximately $1,244,274.36. The trade was a 18.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,796 shares of company stock valued at $863,028. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several research reports. Monness Crespi & Hardt lowered their price objective on shares of PayPal from $120.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Evercore ISI initiated coverage on shares of PayPal in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $65.00 price objective for the company. Canaccord Genuity Group restated a “buy” rating and issued a $96.00 price objective on shares of PayPal in a research report on Wednesday, April 30th. Piper Sandler lowered their price objective on shares of PayPal from $76.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Finally, Wall Street Zen upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research report on Thursday, May 1st. Three investment 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 MarketBeat, the stock presently has a consensus 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.