PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Bought by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC significantly increased its stake in PayPal Holdings, Inc. by 1,571.4% during the 1st quarter, now owning 106,820 shares worth approximately $6.97 million.
• Institutional ownership of PayPal stands at 68.32%, with several investors recently acquiring new positions, indicating strong interest in the company.
• PayPal's latest quarterly earnings report showed $1.40 earnings per share, exceeding analysts' expectations of $1.30, with revenue of $8.29 billion against estimates of $8.08 billion.

Cary Street Partners Financial LLC raised its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 1,571.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,820 shares of the credit services provider's stock after buying an additional 100,429 shares during the quarter. Cary Street Partners Financial LLC's holdings in PayPal were worth $6,970,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. J. Goldman & Co LP raised its stake in shares of PayPal by 11.9% during the fourth quarter. J. Goldman & Co LP now owns 261,322 shares of the credit services provider's stock worth $22,304,000 after purchasing an additional 27,812 shares during the last quarter. Allianz SE grew its holdings in PayPal by 281.8% during the first quarter. Allianz SE now owns 30,338 shares of the credit services provider's stock worth $1,980,000 after acquiring an additional 22,392 shares during the period. Proffitt & Goodson Inc. acquired a new position in PayPal during the first quarter worth $535,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in PayPal by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,634,664 shares of the credit services provider's stock worth $651,619,000 after acquiring an additional 1,114,858 shares during the period. Finally, Triglav Skladi D.O.O. acquired a new position in PayPal during the fourth quarter worth $939,000. Hedge funds and other institutional investors own 68.32% of the company's stock.

Insider Buying and Selling

In other PayPal news, EVP Diego Scotti sold 3,838 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $69.12, for a total transaction of $265,282.56. Following the completion of the sale, the executive vice president owned 16,989 shares in the company, valued at $1,174,279.68. This trade represents a 18.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Deborah M. Messemer sold 3,795 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.00, for a total value of $277,035.00. Following the sale, the director owned 13,976 shares of the company's stock, valued at approximately $1,020,248. This trade represents a 21.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,736 shares of company stock valued at $1,620,835. Corporate insiders own 0.08% of the company's stock.

PayPal Trading Up 2.3%

Shares of PayPal stock traded up $1.59 during trading hours on Wednesday, reaching $69.42. The stock had a trading volume of 11,902,757 shares, compared to its average volume of 13,024,427. The firm has a 50 day simple moving average of $73.03 and a two-hundred day simple moving average of $71.98. The firm has a market capitalization of $66.32 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 1.04 and a beta of 1.42. 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 1 year low of $55.85 and a 1 year high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its earnings results on Tuesday, July 29th. The credit services provider reported $1.40 EPS 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 period last year, the business posted $1.19 EPS. As a group, equities research analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PYPL. BMO Capital Markets reaffirmed a "market perform" rating on shares of PayPal in a report on Tuesday, July 29th. Monness Crespi & Hardt dropped their price objective on PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Robert W. Baird upped their target price on PayPal from $78.00 to $79.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Wall Street Zen raised PayPal from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Evercore ISI started coverage on PayPal in a report on Wednesday, April 9th. They issued an "in-line" rating and a $65.00 target price on the stock. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $84.57.

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.