Independent Advisor Alliance Sells 14,049 Shares of PayPal Holdings, Inc. $PYPL

Independent Advisor Alliance lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 24.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,427 shares of the credit services provider’s stock after selling 14,049 shares during the period. Independent Advisor Alliance’s holdings in PayPal were worth $2,845,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Hilltop National Bank acquired a new position in PayPal in the second quarter valued at about $27,000. MUFG Securities EMEA plc boosted its position in shares of PayPal by 100.4% during the 2nd quarter. MUFG Securities EMEA plc now owns 385 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 87,524 shares in the last quarter. Cloud Capital Management LLC bought a new stake in shares of PayPal during the 3rd quarter valued at approximately $30,000. True Wealth Design LLC grew its stake in shares of PayPal by 285.3% in the third quarter. True Wealth Design LLC now owns 524 shares of the credit services provider’s stock worth $35,000 after purchasing an additional 388 shares during the last quarter. Finally, VSM Wealth Advisory LLC bought a new position in shares of PayPal in the 2nd quarter worth about $36,000. 68.32% of the stock is owned by institutional investors.

Insider Buying and Selling at PayPal

In other PayPal news, EVP Aaron Webster sold 9,282 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $66.29, for a total value of $615,303.78. Following the completion of the sale, the executive vice president directly owned 35,699 shares in the company, valued at approximately $2,366,486.71. This represents a 20.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Suzan Kereere sold 4,162 shares of PayPal stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $59.84, for a total value of $249,054.08. Following the completion of the transaction, the insider owned 30,983 shares in the company, valued at $1,854,022.72. This represents a 11.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald raised shares of PayPal to a “hold” rating in a research report on Tuesday, January 27th. President Capital reduced their price target on shares of PayPal from $91.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, November 25th. Keefe, Bruyette & Woods increased their target price on shares of PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. The Goldman Sachs Group dropped their price objective on PayPal from $72.00 to $65.00 and set a “sell” rating for the company in a report on Tuesday, January 6th. Finally, Bank of America reaffirmed a “neutral” rating and set a $68.00 target price (down previously from $93.00) on shares of PayPal in a research note on Thursday, December 11th. Twelve equities research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $73.10.

PayPal Price Performance

NASDAQ:PYPL opened at $52.69 on Monday. The firm has a market capitalization of $49.30 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 0.66 and a beta of 1.43. The business has a 50 day simple moving average of $59.03 and a 200-day simple moving average of $65.40. PayPal Holdings, Inc. has a 1 year low of $52.06 and a 1 year high of $90.40. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.34 and a quick ratio of 1.34.

About PayPal

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.

Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.