Navalign LLC Sells 4,315 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Navalign LLC lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 27.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,341 shares of the credit services provider’s stock after selling 4,315 shares during the period. Navalign LLC’s holdings in PayPal were worth $696,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. State Street Corp boosted its stake in PayPal by 0.9% in the 2nd quarter. State Street Corp now owns 45,846,969 shares of the credit services provider’s stock worth $3,059,368,000 after purchasing an additional 423,625 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of PayPal by 1.1% in the first quarter. Geode Capital Management LLC now owns 20,947,345 shares of the credit services provider’s stock worth $1,586,966,000 after buying an additional 235,651 shares in the last quarter. Morgan Stanley grew its holdings in shares of PayPal by 4.5% during the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after buying an additional 873,181 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of PayPal by 110,462.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock worth $1,220,431,000 after purchasing an additional 17,120,572 shares during the last quarter. Finally, Norges Bank purchased a new position in PayPal in the 4th quarter worth about $1,022,333,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Trading Up 0.6 %

PYPL traded up $0.42 on Thursday, reaching $66.99. 10,765,398 shares of the company’s stock were exchanged, compared to its average volume of 18,348,646. The company has a market cap of $71.80 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.51 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $77.95. The company’s 50 day moving average is $61.46 and its 200-day moving average is $59.41.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, beating the consensus estimate of $1.36 by $0.12. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $1.01 earnings per share. Equities analysts predict that PayPal Holdings, Inc. will post 3.95 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 23,430 shares in the company, valued at approximately $1,420,795.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

PYPL has been the topic of several research reports. Monness Crespi & Hardt dropped their target price on shares of PayPal from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. BMO Capital Markets cut their price target on PayPal from $65.00 to $60.00 and set a “market perform” rating for the company in a report on Thursday, February 8th. DZ Bank lowered PayPal from a “buy” rating to a “hold” rating and set a $60.00 price objective for the company. in a research note on Friday, February 9th. Daiwa Capital Markets downgraded PayPal from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $64.00 to $62.00 in a research report on Tuesday, February 13th. Finally, UBS Group raised their target price on shares of PayPal from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $70.47.

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.