PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT decreased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,058,267 shares of the credit services provider’s stock after selling 19,296 shares during the period. PayPal accounts for 3.0% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 8th largest holding. Sound Shore Management Inc. CT owned about 0.11% of PayPal worth $90,323,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Gordian Capital Singapore Pte Ltd acquired a new position in shares of PayPal in the 3rd quarter valued at $26,000. Rosenberg Matthew Hamilton boosted its holdings in shares of PayPal by 67.6% in the 4th 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 in the last quarter. Sugarloaf Wealth Management LLC boosted its holdings 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 valued at $30,000 after buying an additional 272 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of PayPal in the 3rd quarter valued at $36,000. Finally, Modus Advisors LLC acquired a new position in shares of PayPal in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Insider Buying and Selling at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were 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 directly 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 legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of PayPal in a report on Wednesday, February 26th. Citigroup restated an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. Robert W. Baird decreased their price target on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Barclays increased their price target on shares of PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Morgan Stanley increased their price target on shares of PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.03.

PayPal Stock Performance

Shares of PYPL opened at $70.19 on Monday. The company has a 50-day simple moving average of $78.19 and a 200-day simple moving average of $80.92. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $69.43 billion, a PE ratio of 17.50, a P/E/G ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66.

PayPal (NASDAQ:PYPL) last posted its 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 net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the firm posted $1.48 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

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.