Manchester Capital Management LLC Decreases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Manchester Capital Management LLC decreased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 42.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,080 shares of the credit services provider’s stock after selling 2,250 shares during the period. Manchester Capital Management LLC’s holdings in PayPal were worth $206,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Pittenger & Anderson Inc. raised its holdings in PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after buying an additional 172 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of PayPal in the fourth quarter valued at $25,000. American National Bank bought a new stake in shares of PayPal in the 1st quarter worth about $27,000. Register Financial Advisors LLC purchased a new position in shares of PayPal during the 1st quarter worth about $30,000. Finally, Private Wealth Management Group LLC bought a new position in PayPal during the 4th quarter valued at about $29,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PayPal

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PYPL shares. Mizuho upgraded PayPal from a “neutral” rating to a “buy” rating and boosted their target price for the company from $68.00 to $90.00 in a research report on Thursday, May 30th. BMO Capital Markets upped their price objective on PayPal from $64.00 to $65.00 and gave the company a “market perform” rating in a research report on Wednesday, May 1st. StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Sanford C. Bernstein boosted their target price on shares of PayPal from $66.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Finally, JMP Securities raised their price target on shares of PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 1st. Twenty analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.82.

PayPal Stock Performance

NASDAQ:PYPL traded up $0.07 during mid-day trading on Friday, hitting $60.06. The company’s stock had a trading volume of 2,804,058 shares, compared to its average volume of 14,669,523. The business’s fifty day moving average is $62.02 and its two-hundred day moving average is $62.25. The stock has a market cap of $62.83 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 0.96 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.28. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $76.54.

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

PayPal 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.