Sciencast Management LP Sells 11,503 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Sciencast Management LP lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 32.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,141 shares of the credit services provider’s stock after selling 11,503 shares during the period. Sciencast Management LP’s holdings in PayPal were worth $2,060,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PYPL. Summit Global Investments boosted its holdings in PayPal by 4.3% during the 4th quarter. Summit Global Investments now owns 6,864 shares of the credit services provider’s stock worth $586,000 after acquiring an additional 283 shares during the last quarter. Millstone Evans Group LLC bought a new position in PayPal in the 4th quarter valued at $230,000. MRP Capital Investments LLC increased its position in shares of PayPal by 1.7% during the 4th quarter. MRP Capital Investments LLC now owns 14,860 shares of the credit services provider’s stock valued at $1,268,000 after purchasing an additional 250 shares during the last quarter. Adams Diversified Equity Fund Inc. boosted its holdings in shares of PayPal by 18.0% in the 4th quarter. Adams Diversified Equity Fund Inc. now owns 240,900 shares of the credit services provider’s stock worth $20,561,000 after buying an additional 36,800 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its position in PayPal by 2.9% during the fourth quarter. TD Private Client Wealth LLC now owns 8,891 shares of the credit services provider’s stock valued at $759,000 after buying an additional 250 shares during the period. 68.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PYPL shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of PayPal in a report on Tuesday, February 4th. Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target for the company in a research note on Friday, December 13th. Piper Sandler lowered their price objective on PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Macquarie increased their target price on shares of PayPal from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Finally, Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and boosted their price target for the company from $86.00 to $103.00 in a research report on Monday, December 9th. Fourteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.03.

PayPal Stock Up 0.7 %

Shares of NASDAQ:PYPL opened at $70.19 on Friday. The company has a market cap of $69.43 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.27 and a beta of 1.52. 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 company has a 50-day moving average price of $78.19 and a 200 day moving average price of $80.80. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66.

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

Insider Activity

In other 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 value of $176,478.90. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

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.