TIAA Trust National Association Sells 738 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

TIAA Trust National Association cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,514 shares of the credit services provider’s stock after selling 738 shares during the period. TIAA Trust National Association’s holdings in PayPal were worth $838,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PYPL. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in PayPal during the fourth quarter worth $25,000. Pittenger & Anderson Inc. boosted its holdings in shares of 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 acquiring an additional 172 shares in the last quarter. American National Bank acquired a new stake in shares of PayPal during the 1st quarter valued at $27,000. Private Wealth Management Group LLC acquired a new stake in shares of PayPal during the 4th quarter valued at $29,000. Finally, Register Financial Advisors LLC acquired a new stake in shares of PayPal during the 1st quarter valued at $30,000. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PYPL has been the topic of several recent research reports. TD Cowen raised their price objective on PayPal from $58.00 to $68.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Susquehanna raised PayPal from a “neutral” rating to a “positive” rating and set a $71.00 price objective on the stock in a report on Tuesday, July 2nd. UBS Group raised their price objective on PayPal from $63.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Monness Crespi & Hardt raised their price objective on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, JMP Securities lifted their target price on PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 1st. Twenty-one investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $73.82.

PayPal Stock Performance

PYPL stock traded down $0.67 during midday trading on Friday, reaching $59.33. 9,352,934 shares of the company’s stock traded hands, compared to its average volume of 10,974,626. The company has a 50-day moving average price of $61.52 and a two-hundred day moving average price of $62.19. 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 52 week low of $50.25 and a 52 week high of $76.54. The firm has a market capitalization of $62.06 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 0.97 and a beta of 1.42.

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 analysts’ consensus estimates of $1.22 by ($0.14). The business had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 EPS. As a group, equities analysts anticipate that PayPal Holdings, Inc. will post 4.15 EPS for the current year.

Insider Transactions at PayPal

In other news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction 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 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 available at the SEC website. 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.