Concentric Capital Strategies LP Buys New Shares in PayPal Holdings, Inc. (NASDAQ:PYPL)

Concentric Capital Strategies LP purchased a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 39,934 shares of the credit services provider's stock, valued at approximately $3,408,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in PayPal by 2.1% during the third quarter. Principal Financial Group Inc. now owns 1,182,316 shares of the credit services provider's stock valued at $92,256,000 after acquiring an additional 24,193 shares during the period. Diversified Trust Co grew its holdings in shares of PayPal by 1.7% during the 4th quarter. Diversified Trust Co now owns 17,813 shares of the credit services provider's stock worth $1,520,000 after purchasing an additional 298 shares in the last quarter. Worth Asset Management LLC acquired a new stake in shares of PayPal during the 4th quarter worth approximately $1,312,000. Fulton Bank N.A. increased its position in shares of PayPal by 10.1% during the fourth quarter. Fulton Bank N.A. now owns 6,959 shares of the credit services provider's stock valued at $594,000 after purchasing an additional 640 shares during the period. Finally, Baker Tilly Wealth Management LLC raised its stake in shares of PayPal by 6.5% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 4,936 shares of the credit services provider's stock valued at $421,000 after purchasing an additional 303 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Trading Up 0.9 %

NASDAQ PYPL opened at $68.69 on Thursday. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The stock has a 50-day simple moving average of $65.58 and a 200 day simple moving average of $77.86. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $66.80 billion, a PE ratio of 17.13, a P/E/G ratio of 1.27 and a beta of 1.51.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.17. The business had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. PayPal's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the company posted $1.08 EPS. Research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insider Activity at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the transaction, the director now directly owns 29,734 shares of the company's stock, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PYPL has been the topic of several analyst reports. Keefe, Bruyette & Woods lowered their price target 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. Monness Crespi & Hardt lowered their target price on shares of PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Needham & Company LLC reissued a "hold" rating on shares of PayPal in a research report on Wednesday, April 30th. Compass Point assumed coverage on PayPal in a report on Wednesday, April 23rd. They set a "sell" rating and a $56.00 price objective on the stock. Finally, BTIG Research reissued a "neutral" rating on shares of PayPal in a report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $83.68.

PayPal 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.

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