Cohen Capital Management Inc. Lowers Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Cohen Capital Management Inc. lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 17.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,771 shares of the credit services provider’s stock after selling 4,402 shares during the quarter. Cohen Capital Management Inc.’s holdings in PayPal were worth $1,391,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PYPL. Norges Bank purchased a new stake in shares of PayPal during the 4th quarter valued at $749,561,000. The Manufacturers Life Insurance Company grew its holdings in shares of PayPal by 125.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after purchasing an additional 958,130 shares during the last quarter. Boston Partners grew its holdings in shares of PayPal by 4,024.5% during the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock valued at $48,099,000 after purchasing an additional 764,258 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of PayPal by 1,309.2% during the 4th quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock valued at $49,168,000 after purchasing an additional 743,833 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of PayPal by 6,724.3% during the 4th quarter. International Assets Investment Management LLC now owns 658,070 shares of the credit services provider’s stock valued at $40,412,000 after purchasing an additional 648,427 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Insider Transactions at PayPal

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

Analyst Ratings Changes

PYPL has been the topic of several recent research reports. Citigroup increased their target price on shares of PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a report on Monday, June 10th. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Tuesday, April 30th. The Goldman Sachs Group reissued a “neutral” rating and issued a $69.00 price target on shares of PayPal in a report on Monday, June 24th. Finally, Monness Crespi & Hardt raised their price target 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 research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, PayPal currently has a consensus rating of “Hold” and an average price target of $73.82.

PayPal Stock Up 1.9 %

PayPal stock traded up $1.09 during trading hours on Thursday, hitting $59.99. The stock had a trading volume of 13,070,562 shares, compared to its average volume of 14,762,607. 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 stock has a market capitalization of $62.75 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 0.97 and a beta of 1.42. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $76.54. The stock’s 50-day moving average price is $62.02 and its 200-day moving average price is $62.25.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.14). The firm had revenue of $7.70 billion during 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 firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $0.86 earnings per share. Equities research analysts anticipate that PayPal Holdings, Inc. will post 4.14 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.