Palouse Capital Management Inc. Decreases Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Palouse Capital Management Inc. cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.4% during the 4th quarter, HoldingsChannel reports. The fund owned 15,818 shares of the credit services provider’s stock after selling 902 shares during the quarter. Palouse Capital Management Inc.’s holdings in PayPal were worth $971,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System purchased a new position in shares of PayPal during the fourth quarter worth approximately $9,267,000. Bartlett & Co. LLC raised its stake in shares of PayPal by 8.5% during the fourth quarter. Bartlett & Co. LLC now owns 9,414 shares of the credit services provider’s stock worth $594,000 after acquiring an additional 740 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of PayPal by 9.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 847,006 shares of the credit services provider’s stock worth $53,344,000 after acquiring an additional 73,687 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in shares of PayPal by 4.9% in the third quarter. Sunbelt Securities Inc. now owns 20,242 shares of the credit services provider’s stock worth $1,183,000 after purchasing an additional 942 shares during the last quarter. Finally, Bellecapital International Ltd. grew its holdings in shares of PayPal by 2.0% in the fourth quarter. Bellecapital International Ltd. now owns 21,685 shares of the credit services provider’s stock worth $1,332,000 after purchasing an additional 433 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Trading Up 0.3 %

NASDAQ:PYPL traded up $0.21 during midday trading on Friday, hitting $62.31. 13,170,484 shares of the company traded hands, compared to its average volume of 16,580,498. The firm’s fifty day moving average is $62.34 and its 200-day moving average is $59.93. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $76.54. The firm has a market capitalization of $65.59 billion, a P/E ratio of 16.23, a P/E/G ratio of 1.44 and a beta of 1.45. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.46.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.12. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the prior year, the firm posted $1.01 EPS. PayPal’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 3.93 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 on Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the sale, the senior vice president now owns 23,430 shares in the company, valued at $1,420,795.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Canaccord Genuity Group cut their price target on shares of PayPal from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Argus cut shares of PayPal from a “buy” rating to a “hold” rating in a report on Friday, February 9th. JMP Securities boosted their target price on shares of PayPal from $68.00 to $70.00 and gave the company a “market outperform” rating in a report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $74.00 target price on shares of PayPal in a report on Thursday, March 21st. Finally, BTIG Research restated a “neutral” rating on shares of PayPal in a report on Friday, January 5th. Twenty-three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, PayPal currently has a consensus rating of “Hold” and a consensus target price of $70.47.

PayPal 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.