iA Global Asset Management Inc. Purchases 38,084 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Key Points

• iA Global Asset Management Inc. increased its stake in PayPal Holdings, Inc. by 22.1%, acquiring an additional 38,084 shares, bringing its total holdings to 210,611 shares valued at approximately $13.74 million.
• PayPal reported a quarterly earnings per share of $1.40, surpassing the analyst consensus of $1.30, alongside a revenue of $8.29 billion.
• PayPal has a market capitalization of $64.98 billion and an average analyst rating of "Moderate Buy" with an average price target of $84.57.

iA Global Asset Management Inc. grew its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 22.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,611 shares of the credit services provider's stock after buying an additional 38,084 shares during the period. iA Global Asset Management Inc.'s holdings in PayPal were worth $13,742,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Security National Bank of SO Dak boosted its stake in PayPal by 1.1% during the fourth quarter. Security National Bank of SO Dak now owns 12,191 shares of the credit services provider's stock worth $1,041,000 after buying an additional 137 shares during the period. Cohen & Steers Inc. raised its holdings in PayPal by 5.1% in the fourth quarter. Cohen & Steers Inc. now owns 3,016 shares of the credit services provider's stock worth $257,000 after purchasing an additional 145 shares in the last quarter. Redwood Financial Network Corp raised its holdings in PayPal by 4.8% in the fourth quarter. Redwood Financial Network Corp now owns 3,208 shares of the credit services provider's stock worth $274,000 after purchasing an additional 147 shares in the last quarter. MONECO Advisors LLC increased its holdings in shares of PayPal by 0.8% during the first quarter. MONECO Advisors LLC now owns 20,450 shares of the credit services provider's stock valued at $1,334,000 after acquiring an additional 154 shares in the last quarter. Finally, DMC Group LLC boosted its position in PayPal by 2.0% in the first quarter. DMC Group LLC now owns 7,948 shares of the credit services provider's stock valued at $519,000 after buying an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company's stock.

PayPal Trading Up 1.3%

Shares of PYPL opened at $68.01 on Tuesday. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $64.98 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 1.03 and a beta of 1.42. The stock's 50-day moving average price is $73.10 and its 200 day moving average price is $72.01.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.10. PayPal had a return on equity of 25.35% and a net margin of 14.49%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.08 billion. During the same period in the previous year, the company posted $1.19 earnings per share. As a group, research analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on PYPL shares. Piper Sandler set a $74.00 price objective on PayPal in a research report on Tuesday, July 29th. Compass Point initiated coverage on PayPal in a research note on Wednesday, April 23rd. They issued a "sell" rating and a $56.00 price objective for the company. Barclays reaffirmed an "overweight" rating on shares of PayPal in a research note on Tuesday, July 29th. Robert W. Baird increased their price target on PayPal from $78.00 to $79.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Finally, 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 report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $84.57.

Insiders Place Their Bets

In related news, EVP Diego Scotti sold 3,839 shares of the business's stock in a transaction that occurred on 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 transaction, the executive vice president owned 16,989 shares in the company, valued at $1,244,274.36. The trade was a 18.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Deborah M. Messemer sold 3,795 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the transaction, the director directly owned 13,976 shares of the company's stock, valued at $1,020,248. This trade represents a 21.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,736 shares of company stock worth $1,620,835. 0.08% of the stock is owned by company 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.

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