Envestnet Asset Management Inc. Grows Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Envestnet Asset Management Inc. grew its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 10.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,645,149 shares of the credit services provider's stock after purchasing an additional 159,951 shares during the period. Envestnet Asset Management Inc. owned about 0.17% of PayPal worth $107,346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in shares of PayPal by 15.2% in the fourth quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider's stock valued at $596,000 after buying an additional 924 shares during the period. Revolve Wealth Partners LLC acquired a new position in shares of PayPal during the fourth quarter worth $248,000. Assetmark Inc. grew its stake in shares of PayPal by 492.4% in the fourth quarter. Assetmark Inc. now owns 1,410 shares of the credit services provider's stock worth $120,000 after purchasing an additional 1,172 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in PayPal in the fourth quarter valued at $216,000. Finally, Independent Advisor Alliance raised its position in PayPal by 28.3% during the 4th quarter. Independent Advisor Alliance now owns 53,811 shares of the credit services provider's stock worth $4,593,000 after purchasing an additional 11,860 shares during the last quarter. Institutional investors own 68.32% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on PYPL. Seaport Res Ptn downgraded shares of PayPal from a "hold" rating to a "strong sell" rating in a research report on Thursday, April 17th. Needham & Company LLC restated a "hold" rating on shares of PayPal in a research report on Wednesday, April 30th. BMO Capital Markets lowered their target price on PayPal from $83.00 to $79.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $96.00 price objective on shares of PayPal in a research report on Wednesday, April 30th. Finally, Citigroup dropped their target price on shares of PayPal from $98.00 to $95.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, PayPal currently has an average rating of "Hold" and an average target price of $83.42.

PayPal Stock Performance

PYPL stock traded up $0.87 during midday trading on Thursday, reaching $75.70. 6,377,878 shares of the company's stock traded hands, compared to its average volume of 10,816,429. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66. The company has a 50-day moving average price of $72.02 and a two-hundred day moving average price of $73.95. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $73.62 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 1.23 and a beta of 1.45.

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

Insider Activity at PayPal

In other news, insider Suzan Kereere sold 4,162 shares of the company'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 completion of the sale, the insider owned 48,483 shares of the company's stock, valued at approximately $3,550,894.92. This represents a 7.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Diego Scotti sold 3,839 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $281,168.36. Following the transaction, the executive vice president directly owned 16,989 shares in the company, valued at approximately $1,244,274.36. This represents a 18.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,796 shares of company stock valued at $863,028 over the last 90 days. 0.08% of the stock is owned by insiders.

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.