Federated Hermes Inc. Sells 302,157 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Federated Hermes Inc. reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 94.6% during the fourth quarter, HoldingsChannel reports. The firm owned 17,103 shares of the credit services provider’s stock after selling 302,157 shares during the period. Federated Hermes Inc.’s holdings in PayPal were worth $1,460,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Rosenberg Matthew Hamilton boosted its position in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 125 shares during the last quarter. Hurley Capital LLC acquired a new stake in PayPal during the fourth quarter worth approximately $27,000. Sugarloaf Wealth Management LLC increased its holdings in PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares in the last quarter. Modus Advisors LLC acquired a new position in PayPal in the fourth quarter valued at approximately $37,000. Finally, Crowley Wealth Management Inc. bought a new position in shares of PayPal during the 4th quarter worth approximately $39,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PYPL. Bank of America dropped their target price on shares of PayPal from $103.00 to $93.00 and set a “buy” rating on the stock in a research report on Monday. Keefe, Bruyette & Woods dropped their price objective on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, March 31st. StockNews.com downgraded PayPal from a “buy” rating to a “hold” rating in a research note on Monday. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research note on Tuesday, February 4th. Finally, DZ Bank raised PayPal from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Friday, February 28th. Sixteen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Insider Buying and Selling

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the sale, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.

PayPal Stock Down 0.5 %

PayPal stock opened at $62.27 on Tuesday. The firm has a 50 day moving average price of $69.54 and a 200-day moving average price of $79.65. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66. The company has a market capitalization of $61.60 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.27 and a beta of 1.60.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.08. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. PayPal’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 earnings per share. As a group, equities analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

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.