Lathrop Investment Management Corp Sells 23,275 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Lathrop Investment Management Corp trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 28.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 59,823 shares of the credit services provider’s stock after selling 23,275 shares during the quarter. Lathrop Investment Management Corp’s holdings in PayPal were worth $3,674,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in PayPal in the fourth quarter valued at approximately $25,000. Sutton Wealth Advisors Inc. increased its stake in PayPal by 115.0% in the third quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 237 shares in the last quarter. BluePath Capital Management LLC bought a new stake in PayPal in the third quarter valued at approximately $33,000. Beacon Capital Management LLC increased its stake in PayPal by 58.6% in the fourth quarter. Beacon Capital Management LLC now owns 609 shares of the credit services provider’s stock valued at $36,000 after purchasing an additional 225 shares in the last quarter. Finally, Criterion Capital Advisors LLC bought a new stake in PayPal in the fourth quarter valued at approximately $37,000. 68.32% of the stock is owned by institutional investors.

PayPal Trading Up 2.9 %

NASDAQ:PYPL traded up $1.86 during mid-day trading on Friday, hitting $65.96. 14,190,444 shares of the company’s stock were exchanged, compared to its average volume of 9,031,016. The company has a 50 day simple moving average of $62.87 and a 200-day simple moving average of $60.16. 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 Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $76.54. The firm has a market capitalization of $69.43 billion, a P/E ratio of 17.18, a PEG ratio of 1.19 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last posted its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, topping the consensus estimate of $1.36 by $0.12. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The business had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same period last year, the company earned $1.01 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, research analysts expect that PayPal Holdings, Inc. will post 4.02 earnings per share for the current year.

Insiders Place Their Bets

In other PayPal news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction that occurred 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 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 document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $85.00 price target on shares of PayPal in a report on Thursday, February 8th. Sanford C. Bernstein increased their target price on shares of PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. BTIG Research restated a “neutral” rating on shares of PayPal in a report on Friday, January 5th. Mizuho cut their price target on shares of PayPal from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $66.00 price target (down previously from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, PayPal currently has a consensus rating of “Hold” and an average price target of $70.47.

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.