Close Asset Management Ltd Increases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Close Asset Management Ltd raised its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 163.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,899 shares of the credit services provider's stock after purchasing an additional 35,291 shares during the quarter. Close Asset Management Ltd's holdings in PayPal were worth $3,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Mpwm Advisory Solutions LLC acquired a new stake in PayPal during the fourth quarter worth about $25,000. Hurley Capital LLC acquired a new position in PayPal in the 4th quarter worth approximately $27,000. Bernard Wealth Management Corp. acquired a new position in PayPal in the 4th quarter worth approximately $34,000. Pinney & Scofield Inc. acquired a new position in PayPal in the 4th quarter worth approximately $35,000. Finally, Garde Capital Inc. acquired a new stake in shares of PayPal during the 1st quarter valued at $28,000. Hedge funds and other institutional investors own 68.32% of the company's stock.

Insiders Place Their Bets

In related news, 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 transaction of $277,035.00. Following the transaction, the director owned 13,976 shares of the company's stock, valued at $1,020,248. The trade was a 21.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Suzan Kereere sold 4,162 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $304,824.88. Following the sale, the insider owned 48,483 shares in the company, valued at approximately $3,550,894.92. The trade was a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,796 shares of company stock worth $863,028. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Macquarie cut their price objective on shares of PayPal from $117.00 to $95.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Arete Research set a $81.00 price objective on shares of PayPal in a research report on Thursday, March 27th. Citigroup cut their target price on shares of PayPal from $98.00 to $95.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. UBS Group cut their price objective on shares of PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Finally, Piper Sandler raised shares of PayPal to a "neutral" rating and set a $74.00 price objective on the stock in a research report on Tuesday, June 24th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, PayPal currently has a consensus rating of "Hold" and a consensus price target of $83.13.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $76.00 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. The stock's fifty day moving average price is $72.75 and its two-hundred day moving average price is $73.13. PayPal Holdings, Inc. has a one year low of $55.85 and a one year high of $93.66. The firm has a market cap of $73.91 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 1.23 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.16 by $0.17. The firm had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The business's quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the company 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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