Gabelli Funds LLC Sells 222 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Gabelli Funds LLC lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 32,578 shares of the credit services provider’s stock after selling 222 shares during the period. Gabelli Funds LLC’s holdings in PayPal were worth $2,781,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Relyea Zuckerberg Hanson LLC lifted its position in shares of PayPal by 113.8% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock worth $638,000 after buying an additional 3,976 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in PayPal by 2.7% during 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 acquiring an additional 18,172 shares during the period. ExodusPoint Capital Management LP boosted its position in 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 purchasing an additional 183,011 shares during the last quarter. StoneX Group Inc. grew its stake in PayPal by 70.4% in the 4th quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider’s stock valued at $2,326,000 after purchasing an additional 11,260 shares during the period. Finally, Fortem Financial Group LLC increased its position in shares of PayPal by 28.0% during the 4th quarter. Fortem Financial Group LLC now owns 33,302 shares of the credit services provider’s stock valued at $2,842,000 after purchasing an additional 7,291 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Morgan Stanley increased their price target on shares of PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of PayPal in a research report on Tuesday, February 4th. Susquehanna upped their price objective on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research note on Monday, January 6th. BTIG Research reissued a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. Finally, Barclays lowered their target price on PayPal from $110.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.84.

PayPal Trading Up 1.3 %

PYPL stock opened at $61.00 on Friday. PayPal Holdings, Inc. has a one year low of $55.85 and a one year high of $93.66. The company has a market capitalization of $60.34 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The company’s 50 day moving average price is $68.22 and its two-hundred day moving average price is $79.17. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26.

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

Insider Transactions at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the transaction, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

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.