Sandy Spring Bank Cuts Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Sandy Spring Bank lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,390 shares of the credit services provider’s stock after selling 2,170 shares during the quarter. Sandy Spring Bank’s holdings in PayPal were worth $2,850,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its holdings in shares of PayPal by 86.3% during 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. Charles Schwab Investment Management Inc. boosted its holdings in PayPal by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,615,476 shares of the credit services provider’s stock worth $564,631,000 after purchasing an additional 84,337 shares during the last quarter. Primecap Management Co. CA boosted its holdings in PayPal by 21.6% in the third 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 during the last quarter. World Investment Advisors LLC purchased a new stake in PayPal in the third quarter worth approximately $387,435,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in PayPal by 174.1% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal 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 of the company’s stock, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.

PayPal Stock Performance

Shares of NASDAQ:PYPL opened at $69.67 on Friday. PayPal Holdings, Inc. has a 52 week low of $56.97 and a 52 week high of $93.66. The stock has a market capitalization of $68.92 billion, a P/E ratio of 17.37, a PEG ratio of 1.27 and a beta of 1.52. The firm has a fifty day simple moving average of $78.46 and a two-hundred day simple moving average of $80.81. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48.

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

Analyst Ratings Changes

Several brokerages recently issued reports on PYPL. BTIG Research restated a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. Susquehanna raised their target price on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a report on Monday, January 6th. Barclays raised their target price on shares of PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Morgan Stanley raised their target price on shares of PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price target on shares of PayPal in a research report on Thursday, December 12th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.03.

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.