Boston Common Asset Management LLC lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 13.7% during the second quarter, Holdings Channel reports. The fund owned 76,349 shares of the credit services provider’s stock after selling 12,151 shares during the quarter. Boston Common Asset Management LLC’s holdings in PayPal were worth $5,674,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. Hilltop National Bank acquired a new position in PayPal during the second quarter worth $27,000. Evermay Wealth Management LLC raised its holdings in PayPal by 726.0% during the first quarter. Evermay Wealth Management LLC now owns 413 shares of the credit services provider’s stock worth $27,000 after buying an additional 363 shares during the last quarter. Garde Capital Inc. acquired a new position in PayPal during the first quarter worth $28,000. Tsfg LLC raised its holdings in PayPal by 81.6% during the first quarter. Tsfg LLC now owns 445 shares of the credit services provider’s stock worth $29,000 after buying an additional 200 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd raised its holdings in PayPal by 41.2% during the first quarter. Gordian Capital Singapore Pte Ltd now owns 473 shares of the credit services provider’s stock worth $31,000 after buying an additional 138 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.
PayPal Price Performance
Shares of NASDAQ:PYPL opened at $69.25 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $66.16 billion, a PE ratio of 14.80, a P/E/G ratio of 1.07 and a beta of 1.44. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66. The company has a 50-day moving average price of $68.68 and a two-hundred day moving average price of $69.30.
Insider Activity
In other news, insider Suzan Kereere sold 4,162 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $69.39, for a total value of $288,801.18. Following the completion of the transaction, the insider directly owned 48,483 shares in the company, valued at approximately $3,364,235.37. This trade represents a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Diego Scotti sold 3,838 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $69.12, for a total transaction of $265,282.56. Following the completion of the transaction, the executive vice president owned 16,989 shares of the company’s stock, valued at $1,174,279.68. This trade represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,102 shares of company stock worth $1,046,607. 0.08% of the stock is owned by company insiders.
Analyst Ratings Changes
Several research firms have weighed in on PYPL. JMP Securities lowered their price objective on shares of PayPal from $110.00 to $100.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 30th. Seaport Res Ptn upgraded shares of PayPal from a “strong sell” rating to a “hold” rating in a research note on Monday, July 14th. Piper Sandler set a $74.00 target price on shares of PayPal in a research note on Tuesday, July 29th. Citigroup reiterated a “buy” rating on shares of PayPal in a research note on Tuesday, July 29th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of PayPal in a research note on Tuesday, July 29th. Seventeen equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $84.50.
Check Out Our Latest Report on PayPal
PayPal Company 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.
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