Convergence Investment Partners LLC Sells 15,431 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Convergence Investment Partners LLC lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 54.6% in the 1st quarter, Holdings Channel reports. The fund owned 12,831 shares of the credit services provider’s stock after selling 15,431 shares during the quarter. Convergence Investment Partners LLC’s holdings in PayPal were worth $837,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Security National Bank of SO Dak increased its stake in shares of PayPal by 1.1% during the fourth quarter. Security National Bank of SO Dak now owns 12,191 shares of the credit services provider’s stock worth $1,041,000 after acquiring an additional 137 shares during the period. Cohen & Steers Inc. grew its position in shares of PayPal by 5.1% in the fourth quarter. Cohen & Steers Inc. now owns 3,016 shares of the credit services provider’s stock valued at $257,000 after purchasing an additional 145 shares during the last quarter. Redwood Financial Network Corp grew its position in shares of PayPal by 4.8% in the fourth quarter. Redwood Financial Network Corp now owns 3,208 shares of the credit services provider’s stock valued at $274,000 after purchasing an additional 147 shares during the last quarter. DMC Group LLC lifted its stake in shares of PayPal by 2.0% during the first quarter. DMC Group LLC now owns 7,948 shares of the credit services provider’s stock valued at $519,000 after buying an additional 155 shares during the period. Finally, Bryn Mawr Capital Management LLC lifted its stake in shares of PayPal by 4.5% during the first quarter. Bryn Mawr Capital Management LLC now owns 3,590 shares of the credit services provider’s stock valued at $234,000 after buying an additional 155 shares during the period. Institutional investors own 68.32% of the company’s stock.

Insider Buying and Selling at PayPal

In other PayPal news, insider Suzan Kereere sold 4,162 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $304,824.88. Following the completion of the sale, the insider owned 48,483 shares of the company’s stock, valued at $3,550,894.92. The trade was a 7.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Diego Scotti sold 3,839 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $281,168.36. Following the sale, the executive vice president directly owned 16,989 shares of the company’s stock, valued at approximately $1,244,274.36. This trade represents a 18.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,796 shares of company stock valued at $863,028 in the last quarter. Company insiders own 0.08% of the company’s stock.

PayPal Price Performance

NASDAQ:PYPL opened at $76.66 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. The stock’s 50-day simple moving average is $72.95 and its 200 day simple moving average is $73.08. The company has a market cap of $74.55 billion, a P/E ratio of 17.15, a P/E/G ratio of 1.25 and a beta of 1.45. PayPal Holdings, Inc. has a 52-week low of $55.85 and a 52-week high of $93.66.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.17. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The company had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. During the same quarter last year, the firm posted $1.08 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of PayPal from $78.00 to $79.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research note on Wednesday, April 30th. Monness Crespi & Hardt cut their target price on PayPal from $120.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. UBS Group reduced their price target on shares of PayPal from $88.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. Finally, BMO Capital Markets cut their target price on shares of PayPal from $83.00 to $79.00 and set a “market perform” rating for the company in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, PayPal currently has an average rating of “Hold” and an average price target of $83.13.

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.