Twenty Acre Capital LP Sells 2,800 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Twenty Acre Capital LP trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,900 shares of the credit services provider’s stock after selling 2,800 shares during the period. PayPal makes up about 6.1% of Twenty Acre Capital LP’s portfolio, making the stock its 9th biggest position. Twenty Acre Capital LP’s holdings in PayPal were worth $7,502,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Relyea Zuckerberg Hanson LLC boosted its holdings in PayPal by 113.8% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after purchasing an additional 3,976 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its stake in shares of PayPal by 2.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider’s stock worth $59,489,000 after buying an additional 18,172 shares during the last quarter. ExodusPoint Capital Management LP boosted its stake in shares of PayPal by 223.1% in the fourth quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider’s stock worth $22,622,000 after buying an additional 183,011 shares during the last quarter. StoneX Group Inc. grew its holdings in PayPal by 70.4% during the fourth quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider’s stock worth $2,326,000 after acquiring an additional 11,260 shares during the period. Finally, Fortem Financial Group LLC raised its position in PayPal by 28.0% during the fourth quarter. Fortem Financial Group LLC now owns 33,302 shares of the credit services provider’s stock valued at $2,842,000 after acquiring an additional 7,291 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the transaction, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

PayPal Stock Down 2.8 %

Shares of NASDAQ:PYPL opened at $60.24 on Thursday. PayPal Holdings, Inc. has a 52-week low of $55.85 and a 52-week high of $93.66. The stock has a market cap of $59.59 billion, a P/E ratio of 15.02, a PEG ratio of 1.27 and a beta of 1.60. The business has a fifty day moving average of $68.87 and a two-hundred day moving average of $79.40. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. PayPal’s quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PYPL shares. StockNews.com cut shares of PayPal from a “buy” rating to a “hold” rating in a research note on Monday. Susquehanna raised their price target on shares of PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research report on Monday, January 6th. Arete Research set a $81.00 price objective on shares of PayPal in a report on Thursday, March 27th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research note on Wednesday, February 26th. Finally, Macquarie lifted their price target on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Sixteen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $86.84.

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.