First Hawaiian Bank Trims Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Posted by Defense World Staff on Mar 22nd, 2023

First Hawaiian Bank decreased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) by 42.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,482 shares of the credit services provider’s stock after selling 14,577 shares during the quarter. First Hawaiian Bank’s holdings in PayPal were worth $1,387,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in PayPal by 1.1% during the third quarter. Vanguard Group Inc. now owns 95,857,229 shares of the credit services provider’s stock worth $8,250,431,000 after buying an additional 1,028,906 shares in the last quarter. State Street Corp raised its position in PayPal by 1.3% in the third quarter. State Street Corp now owns 44,690,146 shares of the credit services provider’s stock valued at $3,846,481,000 after purchasing an additional 590,699 shares during the period. Fisher Asset Management LLC raised its position in PayPal by 2.0% in the third quarter. Fisher Asset Management LLC now owns 17,668,310 shares of the credit services provider’s stock valued at $1,520,711,000 after purchasing an additional 338,368 shares during the period. Northern Trust Corp raised its position in PayPal by 1.2% in the first quarter. Northern Trust Corp now owns 13,155,190 shares of the credit services provider’s stock valued at $1,521,399,000 after purchasing an additional 162,373 shares during the period. Finally, Alliancebernstein L.P. raised its position in PayPal by 29.5% in the third quarter. Alliancebernstein L.P. now owns 11,339,290 shares of the credit services provider’s stock valued at $975,973,000 after purchasing an additional 2,581,583 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

PayPal Stock Up 4.8 %

PayPal stock opened at $76.72 on Wednesday. PayPal Holdings, Inc. has a fifty-two week low of $66.39 and a fifty-two week high of $122.92. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $86.80 billion, a P/E ratio of 36.53, a PEG ratio of 1.10 and a beta of 1.31. The stock has a 50-day simple moving average of $77.56 and a 200-day simple moving average of $80.57.

PayPal (NASDAQ:PYPL – Get Rating) last posted its earnings results on Thursday, February 9th. The credit services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. PayPal had a return on equity of 17.48% and a net margin of 8.79%. The business had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $7.39 billion. During the same period in the previous year, the business earned $0.92 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis. Equities research analysts expect that PayPal Holdings, Inc. will post 3.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PYPL shares. Canaccord Genuity Group restated a “buy” rating and issued a $160.00 target price on shares of PayPal in a research report on Friday, February 10th. Wells Fargo & Company lifted their target price on PayPal from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Friday, February 10th. StockNews.com initiated coverage on PayPal in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on PayPal from $140.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday, January 31st. Finally, BNP Paribas raised PayPal from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and a consensus target price of $108.42.

Insider Activity

In related news, CEO Daniel H. Schulman acquired 26,065 shares of PayPal stock in a transaction on Friday, February 17th. The stock was purchased at an average cost of $76.17 per share, with a total value of $1,985,371.05. Following the purchase, the chief executive officer now directly owns 395,351 shares in the company, valued at $30,113,885.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

About PayPal

(Get Rating)

PayPal Holdings, Inc engages in the development of technology platforms for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. It 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.

First Hawaiian Bank Trims Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

PayPal Stock Up 4.8 %

Wall Street Analysts Forecast Growth

Insider Activity

About PayPal

See Also

You might be interested in: