Pitti Group Wealth Management LLC Reduces Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Pitti Group Wealth Management LLC lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,912 shares of the credit services provider’s stock after selling 673 shares during the period. Pitti Group Wealth Management LLC’s holdings in PayPal were worth $846,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of PYPL. FMR LLC boosted its position in PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after buying an additional 7,767,072 shares during the last quarter. World Investment Advisors LLC purchased a new stake in PayPal in the third quarter valued at approximately $387,435,000. Robeco Institutional Asset Management B.V. boosted its position in PayPal by 174.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after purchasing an additional 2,689,162 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in PayPal in the 4th quarter worth approximately $135,537,000. Finally, Primecap Management Co. CA boosted its position in PayPal by 21.6% in the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after purchasing an additional 1,069,356 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

Shares of PayPal stock opened at $68.95 on Monday. The business has a 50-day moving average of $79.96 and a 200 day moving average of $81.02. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66. The stock has a market capitalization of $68.21 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26.

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

Analysts Set New Price Targets

Several research firms have commented on PYPL. BTIG Research restated a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. JPMorgan Chase & Co. restated an “overweight” rating on shares of PayPal in a research report on Tuesday, February 4th. Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $86.00 to $103.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods increased their target price on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Macquarie increased their target price on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and an average price target of $90.03.

Insider Activity at PayPal

In other 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 value 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company insiders.

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.