Naviter Wealth LLC Sells 2,096 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Naviter Wealth LLC reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 30.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,846 shares of the credit services provider’s stock after selling 2,096 shares during the period. Naviter Wealth LLC’s holdings in PayPal were worth $298,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PYPL. Investment House LLC increased its stake in shares of PayPal by 18.5% in the fourth quarter. Investment House LLC now owns 184,994 shares of the credit services provider’s stock worth $11,360,000 after purchasing an additional 28,938 shares during the period. Capital Investment Counsel Inc grew its position in PayPal by 131.6% during the fourth quarter. Capital Investment Counsel Inc now owns 36,154 shares of the credit services provider’s stock worth $2,220,000 after buying an additional 20,545 shares in the last quarter. Silver Oak Securities Incorporated grew its position in PayPal by 60.1% during the fourth quarter. Silver Oak Securities Incorporated now owns 5,028 shares of the credit services provider’s stock worth $309,000 after buying an additional 1,887 shares in the last quarter. Gitterman Wealth Management LLC acquired a new stake in PayPal during the fourth quarter worth about $290,000. Finally, Legacy Capital Wealth Partners LLC grew its position in PayPal by 30.7% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 7,945 shares of the credit services provider’s stock worth $488,000 after buying an additional 1,868 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $74.00 target price on shares of PayPal in a research report on Thursday, March 21st. Wedbush reaffirmed an “outperform” rating and set a $85.00 price objective on shares of PayPal in a report on Thursday, February 8th. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a report on Friday, January 5th. UBS Group lifted their price objective on PayPal from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Finally, Wells Fargo & Company lifted their price objective on PayPal from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Twenty-four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, PayPal currently has an average rating of “Hold” and a consensus price target of $70.72.

PayPal Price Performance

PYPL opened at $67.92 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $76.54. The company has a fifty day simple moving average of $63.21 and a 200 day simple moving average of $60.35. The stock has a market cap of $71.50 billion, a P/E ratio of 17.69, a P/E/G ratio of 1.25 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The company had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. PayPal’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. On average, research analysts expect that PayPal Holdings, Inc. will post 4.02 EPS for the current year.

Insiders Place Their Bets

In other PayPal news, SVP Frank Keller sold 7,686 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of the transaction, the senior vice president now owns 23,430 shares in the company, valued at approximately $1,420,795.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

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.