Shannon River Fund Management LLC Sells 9,430 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Shannon River Fund Management LLC trimmed its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,470 shares of the credit services provider’s stock after selling 9,430 shares during the period. PayPal makes up 3.4% of Shannon River Fund Management LLC’s portfolio, making the stock its 8th biggest position. Shannon River Fund Management LLC’s holdings in PayPal were worth $22,999,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PYPL. Rosenberg Matthew Hamilton grew its position in shares of PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after buying an additional 125 shares in the last quarter. Hurley Capital LLC acquired a new position in PayPal during the 4th quarter worth $27,000. Sugarloaf Wealth Management LLC increased its position in shares of PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of PayPal in the 4th quarter valued at about $37,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of PayPal during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

Shares of PayPal stock opened at $62.27 on Tuesday. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market cap of $61.60 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The company’s 50-day moving average price is $69.54 and its two-hundred day moving average price is $79.65.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.48 EPS. As a group, sell-side analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Analyst Ratings Changes

PYPL has been the subject of several research analyst reports. Bank of America lowered their price objective on PayPal from $103.00 to $93.00 and set a “buy” rating for the company in a report on Monday. Citigroup reiterated an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. Wells Fargo & Company restated an “equal weight” rating on shares of PayPal in a research note on Wednesday, February 5th. Arete Research set a $81.00 target price on shares of PayPal in a research note on Thursday, March 27th. Finally, StockNews.com downgraded shares of PayPal from a “buy” rating to a “hold” rating in a research report on Monday. Sixteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Insider Activity

In other news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the sale, the director now directly owns 29,734 shares of the company’s stock, valued at $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.14% of the company’s stock.

PayPal 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.