PayPal (NASDAQ:PYPL) Shares Down 1.5%

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price dropped 1.5% on Wednesday . The stock traded as low as $58.54 and last traded at $58.83. Approximately 2,285,092 shares traded hands during trading, a decline of 84% from the average daily volume of 14,323,537 shares. The stock had previously closed at $59.71.

Analyst Ratings Changes

PYPL has been the topic of several recent research reports. The Goldman Sachs Group restated a “neutral” rating and set a $69.00 price target on shares of PayPal in a report on Monday, June 24th. New Street Research initiated coverage on PayPal in a report on Friday, May 31st. They set a “buy” rating and a $80.00 price target on the stock. TD Cowen increased their price target on PayPal from $58.00 to $68.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. William Blair lowered PayPal from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research note on Tuesday, April 30th. Twenty equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $73.10.

PayPal Price Performance

The firm has a market capitalization of $60.38 billion, a PE ratio of 14.41, a PEG ratio of 0.95 and a beta of 1.42. The stock has a 50-day moving average price of $61.10 and a 200 day moving average price of $62.17. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 earnings per share. Equities analysts forecast that PayPal Holdings, Inc. will post 4.15 EPS for the current fiscal year.

Insider Transactions at PayPal

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the transaction, the director now owns 13,976 shares of the company’s stock, valued at $861,620.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. raised its holdings in shares of PayPal by 4.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 498,749 shares of the credit services provider’s stock valued at $30,628,000 after buying an additional 20,338 shares during the period. PFG Investments LLC increased its holdings in PayPal by 15.2% during the 4th quarter. PFG Investments LLC now owns 9,071 shares of the credit services provider’s stock worth $557,000 after purchasing an additional 1,195 shares during the period. FLC Capital Advisors purchased a new stake in PayPal during the 4th quarter worth about $207,000. Ritholtz Wealth Management increased its holdings in PayPal by 5.4% during the 4th quarter. Ritholtz Wealth Management now owns 4,850 shares of the credit services provider’s stock worth $298,000 after purchasing an additional 247 shares during the period. Finally, SeaCrest Wealth Management LLC increased its holdings in PayPal by 2.7% during the 4th quarter. SeaCrest Wealth Management LLC now owns 13,681 shares of the credit services provider’s stock worth $823,000 after purchasing an additional 364 shares during the period. Institutional investors and hedge funds own 68.32% 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.