PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Lathrop Investment Management Corp

Lathrop Investment Management Corp lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 28.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,823 shares of the credit services provider’s stock after selling 23,275 shares during the period. Lathrop Investment Management Corp’s holdings in PayPal were worth $3,674,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in shares of PayPal by 420.6% during the 3rd quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock valued at $190,371,000 after acquiring an additional 2,616,774 shares during the period. FMR LLC raised its position in shares of PayPal by 29.5% during the 3rd quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock worth $404,367,000 after purchasing an additional 1,575,930 shares during the last quarter. LSV Asset Management raised its position in shares of PayPal by 271.6% during the 3rd quarter. LSV Asset Management now owns 1,533,300 shares of the credit services provider’s stock worth $89,637,000 after purchasing an additional 1,120,700 shares during the last quarter. Morgan Stanley raised its position in shares of PayPal by 4.5% during the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after purchasing an additional 873,181 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of PayPal by 56.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,395,312 shares of the credit services provider’s stock worth $140,030,000 after purchasing an additional 864,684 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Up 2.9 %

Shares of PayPal stock traded up $1.86 during trading on Friday, reaching $65.96. The company had a trading volume of 14,190,444 shares, compared to its average volume of 9,031,016. The company has a market cap of $69.43 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 1.19 and a beta of 1.45. The firm’s fifty day moving average is $62.87 and its 200-day moving average is $60.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29. 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 issued its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 EPS. On average, analysts anticipate that PayPal Holdings, Inc. will post 4.02 EPS for the current year.

Insider Activity

In other news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the sale, the senior vice president now owns 23,430 shares in the company, valued at approximately $1,420,795.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PYPL. William Blair restated an “outperform” rating on shares of PayPal in a research report on Thursday, February 8th. Oppenheimer reaffirmed a “market perform” rating on shares of PayPal in a research note on Thursday, January 25th. Wells Fargo & Company lifted their target price on shares of PayPal from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Sanford C. Bernstein lifted their target price on shares of PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research note on Friday, January 5th. Twenty-three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, PayPal currently has a consensus rating of “Hold” and an average price target of $70.47.

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.