PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Atalanta Sosnoff Capital LLC

Atalanta Sosnoff Capital LLC lowered its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 22.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 284,888 shares of the credit services provider’s stock after selling 83,468 shares during the period. PayPal makes up 1.7% of Atalanta Sosnoff Capital LLC’s holdings, making the stock its 21st biggest holding. Atalanta Sosnoff Capital LLC’s holdings in PayPal were worth $74,131,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. lifted its stake in PayPal by 10.4% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 424,548 shares of the credit services provider’s stock worth $123,752,000 after acquiring an additional 39,837 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC lifted its stake in PayPal by 4.9% in the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 47,194 shares of the credit services provider’s stock worth $13,756,000 after acquiring an additional 2,206 shares during the last quarter. Columbia Asset Management lifted its stake in PayPal by 2.7% in the first quarter. Columbia Asset Management now owns 15,057 shares of the credit services provider’s stock worth $3,656,000 after acquiring an additional 392 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in PayPal by 355.8% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 282,691 shares of the credit services provider’s stock worth $82,399,000 after acquiring an additional 220,669 shares during the last quarter. Finally, Van Leeuwen & Company LLC purchased a new position in PayPal in the second quarter worth approximately $1,262,000. Hedge funds and other institutional investors own 78.94% of the company’s stock.

Several analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of PayPal from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Tuesday, November 9th. Mizuho reduced their price objective on shares of PayPal from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 15th. Piper Sandler reduced their price objective on shares of PayPal from $315.00 to $280.00 and set an “overweight” rating for the company in a research report on Tuesday, November 9th. Sanford C. Bernstein downgraded shares of PayPal from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $260.00 to $220.00 in a research report on Wednesday, November 17th. Finally, Raymond James reduced their price objective on shares of PayPal from $340.00 to $264.00 and set an “outperform” rating for the company in a research report on Wednesday, November 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirty-five have given a buy rating to the company. Based on data from MarketBeat, PayPal presently has a consensus rating of “Buy” and a consensus price target of $283.13.

In related news, Director David W. Dorman bought 1,547 shares of the firm’s stock in a transaction dated Tuesday, November 23rd. The stock was bought at an average price of $186.47 per share, with a total value of $288,469.09. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Auerbach sold 12,314 shares of the stock in a transaction dated Tuesday, November 23rd. The shares were sold at an average price of $187.32, for a total value of $2,306,658.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,114 shares of company stock valued at $7,102,758. 0.10% of the stock is owned by company insiders.

PYPL stock opened at $188.71 on Thursday. The stock has a 50-day moving average price of $242.41 and a two-hundred day moving average price of $265.40. PayPal Holdings, Inc. has a 12-month low of $184.27 and a 12-month high of $310.16. The company has a current ratio of 1.30, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a market cap of $221.72 billion, a PE ratio of 45.36, a price-to-earnings-growth ratio of 3.01 and a beta of 1.11.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Monday, November 8th. The credit services provider reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.04. PayPal had a return on equity of 19.75% and a net margin of 20.09%. The firm had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $6.24 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. Equities analysts forecast that PayPal Holdings, Inc. will post 3.46 EPS for the current fiscal year.

About PayPal

PayPal Holdings, Inc engages in the development of technology platform for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The firm manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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