PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 142.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 432,714 shares of the credit services provider's stock after buying an additional 254,474 shares during the period. Exchange Traded Concepts LLC's holdings in PayPal were worth $28,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in PYPL. Mpwm Advisory Solutions LLC acquired a new position in PayPal in the fourth quarter valued at about $25,000. Hurley Capital LLC purchased a new stake in shares of PayPal in the 4th quarter valued at approximately $27,000. Bernard Wealth Management Corp. acquired a new position in shares of PayPal in the 4th quarter worth approximately $34,000. Pinney & Scofield Inc. acquired a new position in shares of PayPal in the 4th quarter worth approximately $35,000. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of PayPal during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 68.32% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on PYPL shares. Seaport Res Ptn cut PayPal from a "hold" rating to a "strong sell" rating in a research note on Thursday, April 17th. Wall Street Zen raised PayPal from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Robert W. Baird raised 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. Truist Financial began coverage on shares of PayPal in a research note on Monday, June 2nd. They set a "sell" rating and a $68.00 price target on the stock. Finally, Arete Research set a $81.00 price objective on shares of PayPal in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PayPal has an average rating of "Hold" and a consensus target price of $83.29.

PayPal Stock Down 5.3%

Shares of NASDAQ PYPL traded down $3.98 during mid-day trading on Friday, reaching $70.83. The company had a trading volume of 16,734,401 shares, compared to its average volume of 11,033,751. The firm has a 50 day simple moving average of $68.14 and a two-hundred day simple moving average of $75.74. PayPal Holdings, Inc. has a 52-week low of $55.85 and a 52-week high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market cap of $68.88 billion, a P/E ratio of 17.66, a PEG ratio of 1.27 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.17. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. PayPal's revenue for the quarter was up 1.2% on a year-over-year basis. Sell-side analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Insider Activity at PayPal

In related news, insider Suzan Kereere sold 4,162 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $304,824.88. Following the transaction, the insider now owns 48,483 shares in the company, valued at $3,550,894.92. The trade was a 7.91% decrease in their position. The sale was disclosed in a legal filing 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 shares were sold at an average price of $73.00, for a total value of $277,035.00. Following the completion of the transaction, the director now owns 13,976 shares in the company, valued at $1,020,248. This trade represents a 21.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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.

PayPal Company 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.