57,500 Shares in PayPal Holdings, Inc. (NASDAQ:PYPL) Bought by Nutshell Asset Management Ltd

Key Points

• Nutshell Asset Management Ltd has acquired 57,500 shares of PayPal Holdings, Inc., valued at approximately $3.75 million, making PayPal 2.0% of their total portfolio.
• Major institutional investors like Mitsubishi UFJ Asset Management and Waycross Partners have recently increased their stakes in PayPal, reflecting growing institutional confidence in the stock.
• Analysts have a Moderate Buy average rating for PayPal with a target price around $84.57, while various reports indicate expectations for growth in the company's earnings.

Nutshell Asset Management Ltd purchased a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 57,500 shares of the credit services provider's stock, valued at approximately $3,752,000. PayPal comprises 2.0% of Nutshell Asset Management Ltd's holdings, making the stock its 20th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PYPL. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of PayPal by 13.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,842,020 shares of the credit services provider's stock valued at $120,192,000 after acquiring an additional 212,523 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in PayPal by 10.6% in the 1st quarter. Y.D. More Investments Ltd now owns 4,999 shares of the credit services provider's stock worth $326,000 after purchasing an additional 479 shares in the last quarter. Keynote Financial Services LLC grew its position in PayPal by 6.3% during the 1st quarter. Keynote Financial Services LLC now owns 8,553 shares of the credit services provider's stock worth $558,000 after purchasing an additional 508 shares during the last quarter. Headlands Technologies LLC purchased a new stake in PayPal during the 1st quarter worth approximately $8,414,000. Finally, Waycross Partners LLC increased its stake in PayPal by 22.4% during the 1st quarter. Waycross Partners LLC now owns 180,449 shares of the credit services provider's stock valued at $11,774,000 after purchasing an additional 33,018 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several research reports. Deutsche Bank Aktiengesellschaft set a $75.00 price objective on shares of PayPal in a research note on Tuesday, July 29th. Robert W. Baird lifted their price target on PayPal from $78.00 to $79.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Wall Street Zen raised PayPal from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Compass Point began coverage on PayPal in a research note on Wednesday, April 23rd. They issued a "sell" rating and a $56.00 price objective for the company. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $96.00 target price on shares of PayPal in a research report on Wednesday, July 30th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $84.57.

PayPal Trading Down 1.7%

Shares of PayPal stock opened at $68.22 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66. The firm has a market capitalization of $65.18 billion, a PE ratio of 14.58, a P/E/G ratio of 1.07 and a beta of 1.42. The firm's 50-day moving average price is $72.94 and its 200 day moving average price is $71.80.

PayPal (NASDAQ:PYPL - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.10. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.08 billion. PayPal had a return on equity of 25.35% and a net margin of 14.49%. During the same quarter last year, the business posted $1.19 earnings per share. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Transactions at PayPal

In related news, EVP Diego Scotti sold 3,839 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $281,168.36. Following the completion of the sale, the executive vice president owned 16,989 shares of the company's stock, valued at approximately $1,244,274.36. This represents a 18.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Deborah M. Messemer sold 3,795 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the sale, the director owned 13,976 shares of the company's stock, valued at approximately $1,020,248. The trade was a 21.36% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,736 shares of company stock worth $1,620,835. Company insiders own 0.08% of the company's stock.

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.

Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.