Hartline Investment Corp Decreases Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Hartline Investment Corp cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 35.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,527 shares of the credit services provider’s stock after selling 2,992 shares during the quarter. Hartline Investment Corp’s holdings in PayPal were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Morgan Stanley grew its position in PayPal by 4.5% during the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after buying an additional 873,181 shares during the period. Northern Trust Corp lifted its holdings in PayPal by 0.7% during the third quarter. Northern Trust Corp now owns 11,767,054 shares of the credit services provider’s stock valued at $687,902,000 after purchasing an additional 78,105 shares in the last quarter. FMR LLC lifted its holdings in PayPal by 29.5% during the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after purchasing an additional 1,575,930 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in PayPal by 4.6% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,906,516 shares of the credit services provider’s stock valued at $286,835,000 after purchasing an additional 215,835 shares in the last quarter. Finally, Atreides Management LP lifted its holdings in shares of PayPal by 9.3% in the third quarter. Atreides Management LP now owns 4,174,520 shares of the credit services provider’s stock worth $244,042,000 after buying an additional 355,411 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PYPL. Stephens reaffirmed an “equal weight” rating and set a $70.00 price target on shares of PayPal in a research note on Thursday, February 8th. Oppenheimer reaffirmed a “market perform” rating on shares of PayPal in a research note on Thursday, January 25th. Daiwa Capital Markets downgraded shares of PayPal from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $64.00 to $62.00 in a research note on Tuesday, February 13th. JMP Securities upped their price target on shares of PayPal from $68.00 to $70.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 17th. Finally, Citigroup cut their price objective on shares of PayPal from $76.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Twenty-three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.47.

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction on Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the transaction, the senior vice president now owns 23,430 shares in the company, valued at approximately $1,420,795.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

PayPal Stock Performance

Shares of NASDAQ PYPL traded up $0.41 during midday trading on Wednesday, reaching $64.84. 8,173,079 shares of the stock were exchanged, compared to its average volume of 16,305,638. The firm has a market cap of $68.25 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 1.10 and a beta of 1.45. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $76.54. The firm has a 50-day simple moving average of $62.53 and a two-hundred day simple moving average of $60.04. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. The firm had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. As a group, analysts anticipate that PayPal Holdings, Inc. will post 4.02 EPS for the current fiscal year.

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.