Manchester Capital Management LLC Sells 2,250 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Manchester Capital Management LLC trimmed its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 42.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,080 shares of the credit services provider’s stock after selling 2,250 shares during the quarter. Manchester Capital Management LLC’s holdings in PayPal were worth $206,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of PayPal during the 4th quarter worth about $749,561,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of PayPal by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock worth $428,449,000 after acquiring an additional 265,116 shares during the period. First Trust Advisors LP grew its position in shares of PayPal by 1.7% in the fourth quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock valued at $225,283,000 after purchasing an additional 61,384 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in PayPal by 11.9% during the 4th quarter. Hsbc Holdings PLC now owns 2,891,840 shares of the credit services provider’s stock worth $177,541,000 after purchasing an additional 306,613 shares during the last quarter. Finally, HS Management Partners LLC boosted its stake in PayPal by 11.3% in the 4th quarter. HS Management Partners LLC now owns 2,196,910 shares of the credit services provider’s stock valued at $134,912,000 after purchasing an additional 222,410 shares during the period. 68.32% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PYPL has been the subject of a number of analyst reports. Evercore ISI lifted their price target on shares of PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Stephens lifted their price target on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Sanford C. Bernstein lifted their price target on shares of PayPal from $66.00 to $68.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $69.00 price target on shares of PayPal in a research report on Monday, June 24th. Finally, Monness Crespi & Hardt lifted their price target on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Twenty analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $73.82.

PayPal Stock Up 0.1 %

Shares of NASDAQ PYPL traded up $0.07 during trading on Friday, hitting $60.06. 2,804,058 shares of the company traded hands, compared to its average volume of 14,669,523. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. The business’s fifty day moving average is $62.02 and its 200 day moving average is $62.25. The firm has a market capitalization of $62.83 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 0.96 and a beta of 1.42. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $76.54.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing the consensus estimate 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 return on equity of 21.58% and a net margin of 14.26%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 earnings per share. Equities research analysts predict that PayPal Holdings, Inc. will post 4.14 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.