Forum Financial Management LP Purchases 8,813 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Forum Financial Management LP boosted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 154.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,512 shares of the credit services provider's stock after acquiring an additional 8,813 shares during the period. Forum Financial Management LP's holdings in PayPal were worth $1,239,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. J. Goldman & Co LP increased its holdings in PayPal by 11.9% in the 4th quarter. J. Goldman & Co LP now owns 261,322 shares of the credit services provider's stock valued at $22,304,000 after acquiring an additional 27,812 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in PayPal by 2.7% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider's stock valued at $59,489,000 after acquiring an additional 18,172 shares during the last quarter. ExodusPoint Capital Management LP increased its holdings in PayPal by 223.1% in the 4th quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider's stock valued at $22,622,000 after acquiring an additional 183,011 shares during the last quarter. StoneX Group Inc. increased its holdings in PayPal by 70.4% in the 4th quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider's stock valued at $2,326,000 after acquiring an additional 11,260 shares during the last quarter. Finally, Ring Mountain Capital LLC bought a new stake in PayPal in the 4th quarter valued at $581,000. Institutional investors own 68.32% of the company's stock.

Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the sale, the director now directly owns 29,734 shares of the company's stock, valued at $2,145,308.10. This represents a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PYPL shares. Keefe, Bruyette & Woods reduced their price target on shares of PayPal from $104.00 to $85.00 and set an "outperform" rating on the stock in a report on Monday, March 31st. Compass Point initiated coverage on shares of PayPal in a research report on Wednesday, April 23rd. They issued a "sell" rating and a $56.00 price target on the stock. Monness Crespi & Hardt reduced their price target on shares of PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. restated an "overweight" rating on shares of PayPal in a research report on Tuesday, February 4th. Finally, Citigroup reduced their price target 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. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $83.68.

PayPal Stock Down 2.2%

Shares of PYPL opened at $69.85 on Friday. The firm has a market capitalization of $67.93 billion, a P/E ratio of 17.42, a P/E/G ratio of 1.27 and a beta of 1.51. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month 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 firm has a fifty day moving average price of $66.28 and a 200-day moving average price of $77.13.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.17. The firm had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.84 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business's revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 earnings per share. Equities research analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current 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.

Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.