Stonegate Investment Group LLC Sells 10,565 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Stonegate Investment Group LLC lessened its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 453,956 shares of the credit services provider’s stock after selling 10,565 shares during the quarter. Stonegate Investment Group LLC’s holdings in PayPal were worth $30,411,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in PayPal in the fourth quarter valued at about $25,000. Sutton Wealth Advisors Inc. increased its holdings in PayPal by 115.0% in the third quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 237 shares during the last quarter. American National Bank bought a new stake in shares of PayPal in the first quarter worth about $27,000. Private Wealth Management Group LLC bought a new stake in shares of PayPal in the fourth quarter worth about $29,000. Finally, Register Financial Advisors LLC bought a new stake in shares of PayPal in the first quarter worth about $30,000. Institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PYPL. Evercore ISI increased their price target on PayPal from $56.00 to $60.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Wedbush restated an “outperform” rating and issued a $85.00 price target on shares of PayPal in a report on Thursday, February 8th. Royal Bank of Canada restated an “outperform” rating and issued a $74.00 price target on shares of PayPal in a report on Thursday, March 21st. JPMorgan Chase & Co. lowered their price target on PayPal from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, February 8th. Finally, StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Twenty-four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, PayPal presently has an average rating of “Hold” and an average target price of $70.72.

PayPal Stock Performance

Shares of PYPL traded up $0.93 during mid-day trading on Tuesday, reaching $67.92. The company’s stock had a trading volume of 43,146,336 shares, compared to its average volume of 16,583,006. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $76.54. The stock has a market cap of $71.50 billion, a P/E ratio of 17.69, a PEG ratio of 1.23 and a beta of 1.45. The business has a 50-day simple moving average of $63.21 and a two-hundred day simple moving average of $60.35. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.46.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 20.84%. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts anticipate that PayPal Holdings, Inc. will post 4.02 earnings per share for the current fiscal year.

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the stock in a transaction that occurred 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 $1,420,795.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

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.