Norway Savings Bank Sells 965 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Norway Savings Bank lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,755 shares of the credit services provider’s stock after selling 965 shares during the quarter. Norway Savings Bank’s holdings in PayPal were worth $833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PayPal in the 3rd quarter worth approximately $26,000. SYSTM Wealth Solutions LLC grew its holdings in PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 167 shares during the last quarter. Planning Capital Management Corp lifted its holdings in shares of PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 268 shares during the last quarter. Financial Management Professionals Inc. boosted its position in shares of PayPal by 125.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after purchasing an additional 243 shares in the last quarter. Finally, Legacy Investment Solutions LLC purchased a new position in PayPal during the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PYPL shares. Bank of America raised PayPal from a “neutral” rating to a “buy” rating and raised their price target for the stock from $86.00 to $103.00 in a report on Monday, December 9th. Oppenheimer assumed coverage on shares of PayPal in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 target price on shares of PayPal in a research report on Thursday, December 12th. The Goldman Sachs Group raised their price target on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Piper Sandler reissued a “neutral” rating and set a $88.00 price objective on shares of PayPal in a report on Friday, November 22nd. Fourteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PayPal has a consensus rating of “Moderate Buy” and an average price target of $88.65.

PayPal Price Performance

Shares of PayPal stock traded down $1.54 during trading hours on Tuesday, reaching $87.99. 3,501,959 shares of the company’s stock were exchanged, compared to its average volume of 5,896,234. The business has a fifty day moving average of $85.99 and a two-hundred day moving average of $75.15. The company has a market capitalization of $88.21 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 1 year low of $55.77 and a 1 year high of $93.66.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the prior year, the company earned $0.97 EPS. PayPal’s revenue was up 6.0% compared to the same quarter last year. As a group, research analysts predict that PayPal Holdings, Inc. will post 4.57 earnings per share 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.