Clarity Wealth Advisors LLC Trims Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Clarity Wealth Advisors LLC cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,754 shares of the credit services provider’s stock after selling 575 shares during the period. Clarity Wealth Advisors LLC’s holdings in PayPal were worth $519,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PYPL. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in PayPal in the fourth quarter valued at $25,000. American National Bank purchased a new stake in shares of PayPal in the first quarter valued at about $27,000. Private Wealth Management Group LLC purchased a new stake in shares of PayPal in the fourth quarter valued at about $29,000. Register Financial Advisors LLC purchased a new stake in shares of PayPal in the first quarter valued at about $30,000. Finally, Spartan Planning & Wealth Management raised its holdings in shares of PayPal by 13,625.0% in the fourth quarter. Spartan Planning & Wealth Management now owns 549 shares of the credit services provider’s stock valued at $34,000 after buying an additional 545 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the transaction, the director now owns 13,976 shares of the company’s stock, valued at $861,620.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PYPL has been the subject of a number of research reports. Robert W. Baird upped their target price on shares of PayPal from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $84.00 price target on shares of PayPal in a research note on Friday. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research note on Tuesday, April 30th. The Goldman Sachs Group reiterated a “neutral” rating and set a $69.00 price target on shares of PayPal in a research note on Monday, June 24th. Finally, Wells Fargo & Company upped their target price on shares of PayPal from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Twenty-one research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.64.

PayPal Trading Down 0.6 %

Shares of PYPL traded down $0.34 on Friday, hitting $58.03. 28,102,011 shares of the stock traded hands, compared to its average volume of 12,149,450. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $60.70 billion, a P/E ratio of 14.62, a P/E/G ratio of 0.95 and a beta of 1.43. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $76.54. The stock’s 50 day moving average is $63.18 and its two-hundred day moving average is $62.43.

PayPal (NASDAQ:PYPL) last posted its quarterly 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 company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 EPS. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 4.14 earnings per share for the current year.

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.