Cibc World Markets Corp Sells 39,892 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Cibc World Markets Corp decreased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 18.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 178,949 shares of the credit services provider’s stock after selling 39,892 shares during the quarter. Cibc World Markets Corp’s holdings in PayPal were worth $15,273,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PYPL. SouthState Corp grew its position in PayPal by 13.0% during the fourth quarter. SouthState Corp now owns 61,843 shares of the credit services provider’s stock valued at $5,278,000 after buying an additional 7,093 shares during the period. IMG Wealth Management Inc. bought a new stake in shares of PayPal during the 4th quarter valued at $80,000. GWN Securities Inc. purchased a new stake in shares of PayPal in the 4th quarter worth $353,000. Glenview Trust co raised its holdings in PayPal by 2.0% in the 4th quarter. Glenview Trust co now owns 173,977 shares of the credit services provider’s stock worth $14,849,000 after purchasing an additional 3,440 shares during the period. Finally, Harbour Investments Inc. lifted its position in PayPal by 10.8% during the fourth quarter. Harbour Investments Inc. now owns 7,906 shares of the credit services provider’s stock valued at $675,000 after purchasing an additional 773 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company’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 transaction, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PYPL. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. DZ Bank upgraded shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Friday, February 28th. BTIG Research reiterated a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Robert W. Baird decreased their price objective on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $100.00 target price on shares of PayPal in a research note on Thursday, December 12th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.03.

PayPal Trading Up 1.0 %

PYPL opened at $69.65 on Tuesday. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66. 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 stock has a 50-day moving average of $79.56 and a 200 day moving average of $80.99. The firm has a market cap of $68.90 billion, a P/E ratio of 17.37, a P/E/G ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping 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 firm had revenue of $8.37 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. As a group, research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current 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.