Investors Sell Paypal (PYPL) on Strength on Analyst Downgrade

Investors sold shares of Paypal Holdings Inc (NASDAQ:PYPL) on strength during trading on Friday after Nomura lowered their price target on the stock from $120.00 to $103.00. $197.50 million flowed into the stock on the tick-up and $281.53 million flowed out of the stock on the tick-down, for a money net flow of $84.03 million out of the stock. Of all stocks tracked, Paypal had the 0th highest net out-flow for the day. Paypal traded up $3.13 for the day and closed at $79.03

Several other brokerages also recently issued reports on PYPL. Berenberg Bank began coverage on shares of Paypal in a report on Thursday, August 30th. They set a “buy” rating and a $104.00 price target for the company. BidaskClub raised shares of Paypal from a “buy” rating to a “strong-buy” rating in a report on Friday, August 31st. Zacks Investment Research downgraded shares of Paypal from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Raymond James raised shares of Paypal from a “market perform” rating to an “outperform” rating and set a $108.00 price target for the company in a report on Friday, September 14th. Finally, KeyCorp reissued an “overweight” rating and set a $100.00 price target (up previously from $95.00) on shares of Paypal in a report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $91.89.

In other Paypal news, VP Aaron Anderson sold 17,062 shares of the business’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $88.22, for a total value of $1,505,209.64. Following the sale, the vice president now directly owns 9,921 shares in the company, valued at $875,230.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel H. Schulman sold 26,000 shares of the business’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $82.46, for a total transaction of $2,143,960.00. Following the completion of the sale, the insider now owns 338,506 shares in the company, valued at $27,913,204.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 149,732 shares of company stock worth $13,204,157. 0.20% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the business. Webster Bank N. A. raised its holdings in Paypal by 432.4% during the 3rd quarter. Webster Bank N. A. now owns 22,304 shares of the credit services provider’s stock worth $1,959,000 after buying an additional 18,115 shares during the period. Douglass Winthrop Advisors LLC raised its holdings in Paypal by 7.0% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 340,647 shares of the credit services provider’s stock worth $29,922,000 after buying an additional 22,419 shares during the period. Pittenger & Anderson Inc. raised its holdings in Paypal by 1.4% during the 3rd quarter. Pittenger & Anderson Inc. now owns 92,340 shares of the credit services provider’s stock worth $8,111,000 after buying an additional 1,290 shares during the period. Grassi Investment Management raised its holdings in Paypal by 12.6% during the 3rd quarter. Grassi Investment Management now owns 38,925 shares of the credit services provider’s stock worth $3,419,000 after buying an additional 4,357 shares during the period. Finally, Gradient Investments LLC raised its holdings in Paypal by 27.5% during the 3rd quarter. Gradient Investments LLC now owns 14,447 shares of the credit services provider’s stock worth $1,269,000 after buying an additional 3,112 shares during the period. Hedge funds and other institutional investors own 79.59% of the company’s stock.

The firm has a market capitalization of $103.97 billion, a PE ratio of 57.13, a PEG ratio of 2.86 and a beta of 1.31.

Paypal (NASDAQ:PYPL) last posted its quarterly earnings data on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.17. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.81 billion. Paypal had a return on equity of 12.91% and a net margin of 14.02%. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 EPS. On average, sell-side analysts forecast that Paypal Holdings Inc will post 1.73 earnings per share for the current year.

About Paypal (NASDAQ:PYPL)

PayPal Holdings, Inc operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

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