Triangle Securities Wealth Management decreased its position in PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) by 38.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,477 shares of the credit services provider’s stock after selling 4,715 shares during the period. Triangle Securities Wealth Management’s holdings in PayPal were worth $533,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Joseph Group Capital Management bought a new stake in PayPal in the 3rd quarter valued at $26,000. Old North State Trust LLC bought a new stake in PayPal in the 3rd quarter valued at $29,000. New Millennium Group LLC bought a new stake in PayPal in the 2nd quarter valued at $30,000. TD Capital Management LLC bought a new stake in PayPal during the 3rd quarter worth about $35,000. Finally, Turim 21 Investimentos Ltda. bought a new stake in PayPal during the 3rd quarter worth about $39,000. 72.12% of the stock is owned by institutional investors.
PayPal Stock Performance
Shares of NASDAQ:PYPL opened at $72.99 on Friday. The company’s 50 day moving average price is $77.66 and its two-hundred day moving average price is $80.89. PayPal Holdings, Inc. has a 12-month low of $66.39 and a 12-month high of $122.92. The firm has a market cap of $82.58 billion, a PE ratio of 34.76, a PEG ratio of 1.12 and a beta of 1.31. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.51.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. UBS Group boosted their price target on shares of PayPal to $125.00 in a research report on Monday, December 12th. Sumitomo Mitsui Financial Group cut shares of PayPal from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $95.00 to $75.00 in a research report on Wednesday, January 18th. Canaccord Genuity Group reissued a “buy” rating and set a $160.00 price target on shares of PayPal in a research report on Friday, February 10th. Morgan Stanley cut their price target on shares of PayPal from $136.00 to $133.00 and set an “overweight” rating on the stock in a research report on Monday, February 6th. Finally, Wells Fargo & Company boosted their price target on shares of PayPal from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Friday, February 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.42.
Insider Buying and Selling
In other news, CEO Daniel H. Schulman purchased 26,065 shares of PayPal stock in a transaction that occurred on Friday, February 17th. The shares were acquired at an average price of $76.17 per share, for a total transaction of $1,985,371.05. Following the transaction, the chief executive officer now owns 395,351 shares of the company’s stock, valued at approximately $30,113,885.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by company insiders.
PayPal Holdings, Inc engages in the development of technology platforms for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. It manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.
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