AlphaCore Capital LLC Buys 6,542 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

AlphaCore Capital LLC lifted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 123.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,851 shares of the credit services provider's stock after acquiring an additional 6,542 shares during the quarter. AlphaCore Capital LLC's holdings in PayPal were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in PYPL. SG Americas Securities LLC grew its stake in PayPal by 104.5% during the fourth quarter. SG Americas Securities LLC now owns 29,624 shares of the credit services provider's stock worth $2,528,000 after purchasing an additional 694,266 shares during the period. Avior Wealth Management LLC grew its stake in PayPal by 5.6% during the fourth quarter. Avior Wealth Management LLC now owns 24,928 shares of the credit services provider's stock worth $2,128,000 after purchasing an additional 1,321 shares during the period. Red Door Wealth Management LLC grew its stake in PayPal by 6.4% during the fourth quarter. Red Door Wealth Management LLC now owns 48,089 shares of the credit services provider's stock worth $4,104,000 after purchasing an additional 2,872 shares during the period. Secure Asset Management LLC acquired a new stake in PayPal during the fourth quarter worth approximately $257,000. Finally, FCG Investment Co grew its stake in PayPal by 8.6% during the fourth quarter. FCG Investment Co now owns 15,019 shares of the credit services provider's stock worth $1,282,000 after purchasing an additional 1,190 shares during the period. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays decreased their target price on PayPal from $110.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Monness Crespi & Hardt reduced their price objective on PayPal from $120.00 to $90.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Evercore ISI assumed coverage on PayPal in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $65.00 price objective for the company. Citigroup reduced their price objective on PayPal from $98.00 to $95.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, Needham & Company LLC reissued a "hold" rating on shares of PayPal in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $83.68.

Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This trade represents a 7.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.14% of the company's stock.

PayPal Trading Down 2.2%

PYPL opened at $69.85 on Friday. The stock has a market cap of $67.93 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 1.27 and a beta of 1.51. The stock's 50 day moving average price is $66.28 and its 200-day moving average price is $77.16. PayPal Holdings, Inc. has a one year low of $55.85 and a one year high of $93.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26.

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

About PayPal

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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