M&T Bank Corp Sells 24,150 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

M&T Bank Corp trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 376,665 shares of the credit services provider’s stock after selling 24,150 shares during the quarter. M&T Bank Corp’s holdings in PayPal were worth $23,132,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. FinTrust Capital Advisors LLC increased its position in PayPal by 51.8% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 1,283 shares of the credit services provider’s stock worth $75,000 after buying an additional 438 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in PayPal by 5.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 478,411 shares of the credit services provider’s stock valued at $27,968,000 after purchasing an additional 24,231 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of PayPal by 41.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 32,119 shares of the credit services provider’s stock worth $1,878,000 after purchasing an additional 9,377 shares in the last quarter. BNC Wealth Management LLC grew its position in shares of PayPal by 2.2% during the 3rd quarter. BNC Wealth Management LLC now owns 27,361 shares of the credit services provider’s stock worth $1,600,000 after purchasing an additional 583 shares in the last quarter. Finally, Citizens National Bank Trust Department raised its position in shares of PayPal by 35.9% in the third quarter. Citizens National Bank Trust Department now owns 5,036 shares of the credit services provider’s stock valued at $294,000 after buying an additional 1,331 shares in the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the transaction, the senior vice president now owns 23,430 shares in the company, valued at approximately $1,420,795.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.

PayPal Trading Down 1.9 %

PYPL stock traded down $1.28 during midday trading on Friday, hitting $65.70. The stock had a trading volume of 15,435,157 shares, compared to its average volume of 12,651,739. The company has a current ratio of 1.28, a quick ratio of 1.29 and a debt-to-equity ratio of 0.47. The firm has a market cap of $68.73 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 1.22 and a beta of 1.41. The business has a fifty day moving average price of $63.56 and a two-hundred day moving average price of $60.44. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $76.54.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data 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). PayPal had a net margin of 14.26% and a return on equity of 21.58%. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 4.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. JMP Securities increased their price target on PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Morgan Stanley restated an “equal weight” rating and issued a $66.00 price target (down previously from $118.00) on shares of PayPal in a research report on Tuesday, January 9th. Robert W. Baird upped their price objective on shares of PayPal from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday. Sanford C. Bernstein raised their target price on shares of PayPal from $66.00 to $68.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Finally, DZ Bank downgraded shares of PayPal from a “buy” rating to a “hold” rating and set a $60.00 price target for the company. in a report on Friday, February 9th. Twenty-five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $72.73.

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.