13,150 Shares in PayPal Holdings, Inc. (NASDAQ:PYPL) Acquired by Econ Financial Services Corp

Econ Financial Services Corp acquired a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 13,150 shares of the credit services provider's stock, valued at approximately $858,000.

A number of other large investors also recently added to or reduced their stakes in the business. Mpwm Advisory Solutions LLC acquired a new stake in shares of PayPal during the 4th quarter worth approximately $25,000. Hurley Capital LLC acquired a new position in PayPal in the fourth quarter valued at approximately $27,000. Bernard Wealth Management Corp. bought a new position in PayPal in the fourth quarter valued at approximately $34,000. Pinney & Scofield Inc. acquired a new stake in PayPal during the 4th quarter worth $35,000. Finally, Garde Capital Inc. bought a new stake in shares of PayPal during the 1st quarter valued at $28,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Diego Scotti sold 3,839 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $281,168.36. Following the completion of the sale, the executive vice president now owns 16,989 shares of the company's stock, valued at approximately $1,244,274.36. The trade was a 18.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Suzan Kereere sold 4,162 shares of PayPal stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $304,824.88. Following the completion of the sale, the insider now owns 48,483 shares of the company's stock, valued at $3,550,894.92. This trade represents a 7.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,796 shares of company stock valued at $863,028 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on PYPL. Arete Research set a $81.00 price objective on PayPal in a research note on Thursday, March 27th. Bank of America lowered their price target on PayPal from $103.00 to $93.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Piper Sandler raised shares of PayPal to a "neutral" rating and set a $74.00 target price for the company in a research note on Tuesday. Barclays reduced their price target on shares of PayPal from $110.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, Monness Crespi & Hardt decreased their price target on shares of PayPal from $120.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $83.42.

PayPal Stock Performance

PayPal stock traded down $0.51 during midday trading on Wednesday, reaching $73.07. 7,845,195 shares of the company's stock were exchanged, compared to its average volume of 10,997,503. The stock's 50-day simple moving average is $69.40 and its 200 day simple moving average is $74.93. The firm has a market cap of $71.06 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 1.19 and a beta of 1.45. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, topping the consensus estimate 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 in the previous year, the company posted $1.08 EPS. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, 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.