Ninepoint Partners LP Trims Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Ninepoint Partners LP trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 16,736 shares of the credit services provider’s stock after selling 1,000 shares during the quarter. Ninepoint Partners LP’s holdings in PayPal were worth $1,028,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PYPL. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of PayPal in the 4th quarter worth about $25,000. Sutton Wealth Advisors Inc. raised its holdings in shares of PayPal by 115.0% during the 3rd quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock valued at $26,000 after buying an additional 237 shares during the period. PCA Investment Advisory Services Inc. purchased a new stake in shares of PayPal during the 2nd quarter valued at about $27,000. Resurgent Financial Advisors LLC purchased a new stake in shares of PayPal during the 4th quarter valued at about $29,000. Finally, BluePath Capital Management LLC purchased a new stake in shares of PayPal during the 3rd quarter valued at about $33,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Performance

PayPal stock traded up $0.08 during mid-day trading on Friday, hitting $62.18. 6,470,992 shares of the company’s stock traded hands, compared to its average volume of 16,487,025. The firm has a 50 day moving average price of $62.27 and a 200 day moving average price of $59.90. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46. The company has a market cap of $65.45 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 1.44 and a beta of 1.45. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $76.54.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the previous year, the business earned $1.01 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities analysts forecast that PayPal Holdings, Inc. will post 3.93 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Evercore ISI raised their target price on PayPal from $56.00 to $60.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Mizuho dropped their target price on PayPal from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, February 8th. JPMorgan Chase & Co. dropped their target price on PayPal from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, February 8th. JMP Securities raised their price objective on PayPal from $68.00 to $70.00 and gave the company a “market outperform” rating in a research note on Wednesday. Finally, Citigroup lowered their price objective on PayPal from $76.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Twenty-three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, PayPal presently has a consensus rating of “Hold” and a consensus target price of $70.47.

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the sale, the senior vice president now owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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.