PayPal Holdings, Inc. (NASDAQ:PYPL) Stake Cut by American International Group Inc.

American International Group Inc. decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.9% in the 4th quarter, Holdings Channel reports. The firm owned 383,178 shares of the credit services provider’s stock after selling 7,326 shares during the quarter. American International Group Inc.’s holdings in PayPal were worth $23,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of PYPL. Morgan Stanley lifted its holdings in shares of PayPal by 4.5% in the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after purchasing an additional 873,181 shares during the last quarter. Norges Bank acquired a new position in shares of PayPal during the fourth quarter valued at $749,561,000. Northern Trust Corp grew its position in shares of PayPal by 0.7% during the third quarter. Northern Trust Corp now owns 11,767,054 shares of the credit services provider’s stock worth $687,902,000 after acquiring an additional 78,105 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of PayPal by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock worth $428,449,000 after acquiring an additional 265,116 shares during the period. Finally, FMR LLC lifted its position in PayPal by 29.5% in the 3rd 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 during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Stock Down 1.5 %

NASDAQ:PYPL traded down $0.91 during trading hours on Friday, hitting $60.64. 10,366,037 shares of the company’s stock traded hands, compared to its average volume of 10,765,228. The stock’s fifty day moving average price is $64.22 and its two-hundred day moving average price is $62.37. The firm has a market cap of $63.43 billion, a P/E ratio of 15.27, a P/E/G ratio of 1.01 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $76.54.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. PayPal’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. On average, research analysts expect that PayPal Holdings, Inc. will post 4.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on PYPL shares. Robert W. Baird upped their target price on shares of PayPal from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $78.00 target price on shares of PayPal in a research report on Thursday. Evercore ISI boosted their price target on PayPal from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Wednesday, May 1st. StockNews.com lowered PayPal from a “buy” rating to a “hold” rating in a report on Monday, June 10th. Finally, Monness Crespi & Hardt upped their price objective on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Twenty-one investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.82.

Insider Buying and Selling at PayPal

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the transaction, the director now owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

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.