Byrne Asset Management LLC Sells 636 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Byrne Asset Management LLC lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 14,392 shares of the credit services provider’s stock after selling 636 shares during the period. Byrne Asset Management LLC’s holdings in PayPal were worth $939,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Mpwm Advisory Solutions LLC bought a new stake in shares of PayPal in the fourth quarter worth $25,000. Hurley Capital LLC acquired a new position in shares of PayPal during the fourth quarter valued at about $27,000. Bernard Wealth Management Corp. bought a new stake in shares of PayPal during the fourth quarter worth about $34,000. Pinney & Scofield Inc. bought a new stake in shares of PayPal during the fourth quarter worth about $35,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of PayPal during the fourth quarter worth about $38,000. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Down 5.3%

NASDAQ PYPL opened at $70.83 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $68.88 billion, a PE ratio of 17.66, a PEG ratio of 1.27 and a beta of 1.45. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The business’s 50-day moving average is $68.14 and its 200 day moving average is $75.82.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.17. The company had revenue of $7.79 billion for the quarter, compared to analysts’ expectations of $7.84 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. PayPal’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $1.08 earnings per share. Sell-side analysts forecast 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 issued reports on the stock. DZ Bank raised shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Friday, February 28th. Morgan Stanley upped their price target on shares of PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Macquarie dropped their price target on shares of PayPal from $117.00 to $95.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Wells Fargo & Company cut their price target on shares of PayPal from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Finally, Seaport Res Ptn cut shares of PayPal from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 17th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.29.

Insider Buying and Selling at PayPal

In other PayPal news, Director Deborah M. Messemer sold 3,795 shares of PayPal stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.00, for a total transaction of $277,035.00. Following the sale, the director now directly owns 13,976 shares of the company’s stock, valued at approximately $1,020,248. The trade was a 21.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Suzan Kereere sold 4,162 shares of PayPal stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $304,824.88. Following the sale, the insider now directly owns 48,483 shares in the company, valued at approximately $3,550,894.92. The trade was a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,796 shares of company stock valued at $863,028. 0.08% of the stock is currently owned by corporate insiders.

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.