IMA Wealth Inc. Sells 745 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

IMA Wealth Inc. reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,902 shares of the credit services provider’s stock after selling 745 shares during the period. IMA Wealth Inc.’s holdings in PayPal were worth $424,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PYPL. Louisiana State Employees Retirement System purchased a new stake in PayPal in the fourth quarter worth about $9,267,000. Bartlett & Co. LLC grew its holdings in PayPal by 8.5% in the fourth quarter. Bartlett & Co. LLC now owns 9,414 shares of the credit services provider’s stock worth $594,000 after purchasing an additional 740 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in PayPal by 9.5% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 847,006 shares of the credit services provider’s stock worth $53,344,000 after purchasing an additional 73,687 shares during the period. Sunbelt Securities Inc. grew its holdings in 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 period. Finally, Bellecapital International Ltd. grew its holdings in 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 period. 68.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Morgan Stanley restated an “equal weight” rating and issued a $66.00 price objective (down previously from $118.00) on shares of PayPal in a report on Tuesday, January 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $74.00 price target on shares of PayPal in a report on Thursday, March 21st. Mizuho cut their price target on shares of PayPal from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, February 8th. Oppenheimer reiterated a “market perform” rating on shares of PayPal in a report on Thursday, January 25th. Finally, Argus cut shares of PayPal from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Twenty-three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $70.47.

Insider Activity

In other news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the sale, the senior vice president now directly owns 23,430 shares in the company, valued at approximately $1,420,795.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

PayPal Stock Performance

PYPL traded up $1.86 during trading on Friday, hitting $65.96. The company’s stock had a trading volume of 14,190,444 shares, compared to its average volume of 9,031,016. 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 one year low of $50.25 and a one year high of $76.54. The firm has a market cap of $69.43 billion, a PE ratio of 17.18, a P/E/G ratio of 1.19 and a beta of 1.45. The business’s 50 day simple moving average is $62.87 and its 200-day simple moving average is $60.16.

PayPal (NASDAQ:PYPL) last announced 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 firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm earned $1.01 EPS. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 4.02 EPS for the current fiscal year.

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.