Fifth Third Bancorp Has $12.61 Million Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Fifth Third Bancorp grew its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 22.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,219 shares of the credit services provider's stock after acquiring an additional 35,617 shares during the period. Fifth Third Bancorp's holdings in PayPal were worth $12,608,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PYPL. Brighton Jones LLC increased its position in PayPal by 15.2% during the fourth quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider's stock worth $596,000 after buying an additional 924 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in PayPal during the fourth quarter worth approximately $248,000. Essex Financial Services Inc. increased its position in PayPal by 7.7% during the fourth quarter. Essex Financial Services Inc. now owns 5,147 shares of the credit services provider's stock worth $439,000 after buying an additional 367 shares during the last quarter. Leavell Investment Management Inc. increased its position in PayPal by 40.0% during the fourth quarter. Leavell Investment Management Inc. now owns 25,207 shares of the credit services provider's stock worth $2,151,000 after buying an additional 7,196 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC increased its position in PayPal by 23.7% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 15,429 shares of the credit services provider's stock worth $1,317,000 after buying an additional 2,953 shares during the last quarter. Institutional investors own 68.32% of the company's stock.

Wall Street Analyst Weigh In

PYPL has been the topic of a number of recent analyst reports. Arete Research set a $81.00 price target on PayPal in a research report on Thursday, March 27th. Monness Crespi & Hardt reduced their price objective on PayPal from $120.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Barclays reduced their price objective on PayPal from $110.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Canaccord Genuity Group restated a "buy" rating and set a $96.00 price objective on shares of PayPal in a report on Wednesday, April 30th. Finally, Wells Fargo & Company reduced their price objective on PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $83.29.

Insider Transactions 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 transaction of $304,824.88. Following the completion of the transaction, the insider now directly owns 48,483 shares in the company, valued at approximately $3,550,894.92. This represents a 7.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Deborah M. Messemer sold 3,795 shares of the company's stock in a transaction 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 now owns 13,976 shares of the company's stock, 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. Over the last ninety days, insiders sold 11,796 shares of company stock worth $863,028. Corporate insiders own 0.08% of the company's stock.

PayPal Price Performance

PYPL traded down $3.98 during trading on Friday, hitting $70.83. 16,734,401 shares of the stock traded hands, compared to its average volume of 11,033,751. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66. The company has a market cap of $68.88 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.27 and a beta of 1.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The business has a 50 day moving average price of $68.14 and a 200 day moving average price of $75.74.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings data 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. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business 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 business earned $1.08 earnings per share. The company's revenue was up 1.2% on a year-over-year basis. Equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

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.