Brown Brothers Harriman & Co. Reduces Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Brown Brothers Harriman & Co. reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 22.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,605 shares of the credit services provider’s stock after selling 11,731 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in PayPal were worth $3,551,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd purchased a new stake in PayPal in the 3rd quarter worth about $26,000. Rosenberg Matthew Hamilton grew its stake 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 valued at $26,000 after buying an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC raised its holdings in shares of PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after buying an additional 272 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of PayPal during the 3rd quarter worth approximately $36,000. Finally, Modus Advisors LLC purchased a new position in PayPal during the 4th quarter valued at $37,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Piper Sandler decreased their target price on PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. BTIG Research reiterated a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of PayPal in a research report on Tuesday, February 4th. Citigroup reaffirmed an “outperform” rating on shares of PayPal in a research report on Wednesday, February 5th. Finally, StockNews.com cut PayPal from a “buy” rating to a “hold” rating in a research note on Saturday. Sixteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and an average target price of $90.03.

Insider Buying and Selling

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.14% of the stock is currently owned by corporate insiders.

PayPal Trading Down 5.4 %

NASDAQ:PYPL opened at $65.15 on Friday. 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 firm has a fifty day simple moving average of $76.28 and a 200-day simple moving average of $80.82. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66. The company has a market capitalization of $64.45 billion, a P/E ratio of 16.25, a PEG ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the business earned $1.48 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

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.