Pitti Group Wealth Management LLC Decreases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Pitti Group Wealth Management LLC lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 15.4% during the 4th quarter, Holdings Channel reports. The firm owned 10,585 shares of the credit services provider’s stock after selling 1,921 shares during the quarter. Pitti Group Wealth Management LLC’s holdings in PayPal were worth $650,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PYPL. Handelsbanken Fonder AB raised its position in shares of PayPal by 1.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 284,734 shares of the credit services provider’s stock valued at $16,646,000 after buying an additional 5,276 shares in the last quarter. Simplicity Solutions LLC grew its holdings in PayPal by 23.5% during the 3rd quarter. Simplicity Solutions LLC now owns 15,350 shares of the credit services provider’s stock valued at $897,000 after purchasing an additional 2,922 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in PayPal by 21.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 4,194 shares of the credit services provider’s stock valued at $245,000 after purchasing an additional 752 shares during the last quarter. Clarius Group LLC grew its holdings in PayPal by 11.8% during the 3rd quarter. Clarius Group LLC now owns 7,606 shares of the credit services provider’s stock valued at $445,000 after purchasing an additional 802 shares during the last quarter. Finally, Charles Schwab Trust Co bought a new position in PayPal during the 3rd quarter valued at about $253,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of the transaction, the senior vice president now owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on PYPL shares. Evercore ISI upped their price target on shares of PayPal from $56.00 to $60.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. JMP Securities upped their target price on shares of PayPal from $68.00 to $70.00 and gave the stock a “market outperform” rating in a research note on Wednesday, April 17th. Oppenheimer restated a “market perform” rating on shares of PayPal in a research note on Thursday, January 25th. Morgan Stanley restated an “equal weight” rating and issued a $66.00 target price (down from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. Finally, BMO Capital Markets dropped their target price on shares of PayPal from $65.00 to $60.00 and set a “market perform” rating on the stock in a research note on Thursday, February 8th. Twenty-three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $70.47.

PayPal Stock Up 2.9 %

NASDAQ:PYPL traded up $1.86 during midday trading on Friday, reaching $65.96. 14,190,444 shares of the stock traded hands, compared to its average volume of 9,031,016. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $76.54. The business has a 50-day moving average of $62.87 and a two-hundred day moving average of $60.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $69.43 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.23 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last posted its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. The company had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. PayPal’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.01 earnings per share. On average, equities analysts forecast that PayPal Holdings, Inc. will post 4.02 earnings per share for the current fiscal year.

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.