Cigna Investments Inc. New Sells 769 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Cigna Investments Inc. New lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,642 shares of the credit services provider’s stock after selling 769 shares during the quarter. Cigna Investments Inc. New’s holdings in PayPal were worth $617,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sapient Capital LLC bought a new position in PayPal during the fourth quarter worth $806,000. Fiduciary Alliance LLC increased its position in PayPal by 604.7% during the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock worth $3,452,000 after acquiring an additional 45,544 shares during the period. 1832 Asset Management L.P. boosted its stake in PayPal by 44.6% during the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after buying an additional 381 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in PayPal by 18.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock worth $15,686,000 after buying an additional 36,994 shares in the last quarter. Finally, Brown Shipley& Co Ltd boosted its stake in PayPal by 6.0% during the fourth quarter. Brown Shipley& Co Ltd now owns 51,372 shares of the credit services provider’s stock worth $3,155,000 after buying an additional 2,919 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Insider Activity

In other news, Director Deborah M. Messemer sold 4,422 shares of the company’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 completion of the sale, the director now directly owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.14% of the stock is currently owned by company insiders.

PayPal Trading Up 2.7 %

NASDAQ:PYPL traded up $1.80 on Thursday, hitting $67.94. 12,957,914 shares of the stock were exchanged, compared to its average volume of 14,517,639. The stock has a market capitalization of $69.46 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 0.92 and a beta of 1.42. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $70.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The company’s 50-day moving average price is $61.19 and its 200 day moving average price is $62.30.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The company had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. PayPal’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 EPS. On average, equities research analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PYPL shares. JMP Securities lifted 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. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 price target on shares of PayPal in a research note on Wednesday, July 31st. BMO Capital Markets lifted their price target on shares of PayPal from $65.00 to $72.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company lifted their price target on shares of PayPal from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, UBS Group boosted their target price on shares of PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, PayPal has a consensus rating of “Moderate Buy” and a consensus price target of $75.25.

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.