PYPL ARK Invest sold PYPL ahead of Earnings

Yesterday Ark Invest sold more than 23K shares of PYPL just before the upcoming earnings this week.
Most likely today will do the same, since they tend to continue a buy or a sell trend.
The options are slightly bearish too, with more puts than buys recently.

PayPal (PYPL) is expected to earn $1.12 a share on sales of $6.89 billion.

With the rise of so many payment companies with low fees, and also banks who want to keep up with the new fintech, i wonder how PayPal can still have such a high PE Ratio (TTM) of 41.34!

My day to day experience with PayPal as a merchant makes me consider it an extremely expensive way of payment compared to others.

Considering the chart, fundamentals and current market conditions, my price target is $124.

Looking forward to read your opinion about it.