Atlantic Union Bankshares Corp Takes Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Atlantic Union Bankshares Corp acquired a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 29,034 shares of the credit services provider's stock, valued at approximately $1,894,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in PayPal by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider's stock worth $1,849,884,000 after purchasing an additional 271,836 shares during the last quarter. FMR LLC grew its stake in shares of PayPal by 12.9% during the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock valued at $1,615,134,000 after buying an additional 2,161,582 shares during the period. Capital Research Global Investors increased its holdings in shares of PayPal by 108.2% during the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock worth $1,529,823,000 after buying an additional 9,313,783 shares during the last quarter. Norges Bank purchased a new position in shares of PayPal in the 4th quarter worth $1,086,508,000. Finally, Northern Trust Corp boosted its holdings in PayPal by 19.0% in the fourth quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider's stock valued at $892,953,000 after acquiring an additional 1,669,908 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company's stock.

Insider Transactions at PayPal

In other PayPal news, insider Suzan Kereere sold 4,162 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $304,824.88. Following the transaction, the insider owned 48,483 shares in the company, valued at $3,550,894.92. This trade represents a 7.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Deborah M. Messemer sold 3,795 shares of PayPal stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.00, for a total value of $277,035.00. Following the completion of the transaction, the director directly owned 13,976 shares in the company, valued at approximately $1,020,248. This represents a 21.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,796 shares of company stock worth $863,028 in the last 90 days. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on PYPL shares. Robert W. Baird lifted their price target on shares of PayPal from $78.00 to $79.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Bank of America cut their target price on shares of PayPal from $103.00 to $93.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Compass Point initiated coverage on shares of PayPal in a research report on Wednesday, April 23rd. They set a "sell" rating and a $56.00 price target for the company. Needham & Company LLC reiterated a "hold" rating on shares of PayPal in a report on Wednesday, April 30th. Finally, Truist Financial initiated coverage on PayPal in a research note on Monday, June 2nd. They set a "sell" rating and a $68.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $83.13.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $74.17 on Monday. The company's fifty day moving average is $72.75 and its two-hundred day moving average is $73.13. The company has a market cap of $72.13 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.17. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The company had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. During the same period last year, the business earned $1.08 EPS. The business's quarterly revenue was up 1.2% on a year-over-year basis. Equities analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

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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