ING Groep NV Raises Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

ING Groep NV raised its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 276.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 26,123 shares of the credit services provider's stock after purchasing an additional 19,188 shares during the period. ING Groep NV's holdings in PayPal were worth $1,705,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Marble Harbor Investment Counsel LLC boosted its holdings in PayPal by 0.5% during the first quarter. Marble Harbor Investment Counsel LLC now owns 178,561 shares of the credit services provider's stock worth $11,651,000 after purchasing an additional 950 shares during the last quarter. Allianz SE raised its holdings in shares of PayPal by 281.8% in the 1st quarter. Allianz SE now owns 30,338 shares of the credit services provider's stock worth $1,980,000 after purchasing an additional 22,392 shares during the period. Raiffeisen Bank International AG lifted its stake in PayPal by 28.1% in the first quarter. Raiffeisen Bank International AG now owns 10,589 shares of the credit services provider's stock valued at $690,000 after purchasing an additional 2,323 shares during the last quarter. Argent Trust Co lifted its stake in PayPal by 8.2% in the first quarter. Argent Trust Co now owns 35,366 shares of the credit services provider's stock valued at $2,308,000 after purchasing an additional 2,677 shares during the last quarter. Finally, Manchester Capital Management LLC grew its holdings in PayPal by 4.9% during the first quarter. Manchester Capital Management LLC now owns 3,586 shares of the credit services provider's stock valued at $234,000 after purchasing an additional 167 shares during the period. Institutional investors own 68.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PYPL shares. Seaport Res Ptn raised shares of PayPal from a "strong sell" rating to a "hold" rating in a report on Monday, July 14th. Truist Financial assumed coverage on PayPal in a report on Monday, June 2nd. They set a "sell" rating and a $68.00 price objective on the stock. UBS Group reduced their target price on PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Robert W. Baird raised their price objective on shares of PayPal from $78.00 to $79.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley reaffirmed a "positive" rating on shares of PayPal in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, PayPal has a consensus rating of "Moderate Buy" and a consensus price target of $84.57.

Insider Activity

In related news, EVP Diego Scotti sold 3,839 shares of the firm'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 $281,168.36. Following the sale, the executive vice president directly owned 16,989 shares of the company's stock, valued at $1,244,274.36. This trade represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Deborah M. Messemer sold 3,795 shares of the company's 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 transaction, the director directly owned 13,976 shares of the company's stock, valued at $1,020,248. The trade was a 21.36% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,736 shares of company stock valued at $1,620,835. 0.08% of the stock is currently owned by insiders.

PayPal Trading Down 0.8%

PYPL stock traded down $0.57 during midday trading on Friday, hitting $67.65. The company had a trading volume of 9,663,964 shares, compared to its average volume of 11,262,234. The stock has a market cap of $64.63 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.07 and a beta of 1.42. 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 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56. The stock's 50 day moving average price is $72.94 and its 200 day moving average price is $71.80.

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

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.