Primecap Management Co. CA Trims Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Primecap Management Co. CA decreased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,708,850 shares of the credit services provider’s stock after selling 33,300 shares during the quarter. Primecap Management Co. CA owned approximately 0.16% of PayPal worth $104,940,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of PayPal during the 4th quarter worth about $25,000. Sutton Wealth Advisors Inc. boosted its position in PayPal by 115.0% during the third quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 237 shares in the last quarter. Private Wealth Management Group LLC acquired a new stake in PayPal in the fourth quarter valued at approximately $29,000. EdgeRock Capital LLC purchased a new stake in shares of PayPal in the fourth quarter valued at approximately $36,000. Finally, Criterion Capital Advisors LLC purchased a new stake in shares of PayPal in the fourth quarter valued at approximately $37,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Deborah M. Messemer sold 4,422 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $61.65, for a total value of $272,616.30. Following the completion of the transaction, the director now owns 13,976 shares of the company’s stock, valued at $861,620.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the sale, the director now directly owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the transaction, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

PayPal Trading Up 0.1 %

Shares of PayPal stock traded up $0.06 on Friday, reaching $61.64. The company had a trading volume of 8,176,776 shares, compared to its average volume of 12,707,337. The firm’s 50 day moving average price is $64.79 and its two-hundred day moving average price is $61.63. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $76.54. The firm has a market cap of $64.48 billion, a PE ratio of 15.53, a PEG ratio of 1.01 and a beta of 1.41.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 21.58%. The firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. During the same period in the previous year, the firm earned $0.86 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts predict that PayPal Holdings, Inc. will post 4.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of research analyst reports. UBS Group lifted their price target on shares of PayPal from $63.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. TD Cowen upped their price target on shares of PayPal from $58.00 to $68.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. Sanford C. Bernstein lifted their price objective on PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Wells Fargo & Company boosted their price objective on PayPal from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Finally, Stephens lifted their price target on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Twenty-three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.73.

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.