PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Purchased by Jessup Wealth Management Inc

Jessup Wealth Management Inc lifted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 40.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,467 shares of the credit services provider's stock after acquiring an additional 3,311 shares during the period. Jessup Wealth Management Inc's holdings in PayPal were worth $748,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PYPL. Avalon Trust Co boosted its holdings in PayPal by 7.0% during the 4th quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider's stock valued at $176,000 after acquiring an additional 135 shares during the period. Security National Bank of SO Dak increased its holdings in shares of PayPal by 1.1% in the fourth quarter. Security National Bank of SO Dak now owns 12,191 shares of the credit services provider's stock valued at $1,041,000 after purchasing an additional 137 shares during the period. Cohen & Steers Inc. increased its holdings in shares of PayPal by 5.1% in the fourth quarter. Cohen & Steers Inc. now owns 3,016 shares of the credit services provider's stock valued at $257,000 after purchasing an additional 145 shares during the period. Redwood Financial Network Corp grew its holdings in PayPal by 4.8% during the fourth quarter. Redwood Financial Network Corp now owns 3,208 shares of the credit services provider's stock worth $274,000 after acquiring an additional 147 shares during the period. Finally, Strategic Blueprint LLC boosted its position in PayPal by 4.4% during the first quarter. Strategic Blueprint LLC now owns 3,747 shares of the credit services provider's stock worth $245,000 after purchasing an additional 157 shares in the last quarter. Institutional investors own 68.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PYPL. Piper Sandler upgraded PayPal to a "neutral" rating and set a $74.00 price objective on the stock in a research report on Tuesday, June 24th. Truist Financial assumed coverage on PayPal in a research note on Monday, June 2nd. They issued a "sell" rating and a $68.00 price objective for the company. Compass Point assumed coverage on PayPal in a report on Wednesday, April 23rd. They issued a "sell" rating and a $56.00 target price for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $88.00 price target on shares of PayPal in a report on Thursday, June 26th. Finally, Evercore ISI assumed coverage on PayPal in a report on Wednesday, April 9th. They issued an "in-line" rating and a $65.00 target price for the company. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $83.42.

Insiders Place Their Bets

In other PayPal news, EVP Diego Scotti sold 3,839 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $281,168.36. Following the transaction, the executive vice president 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Deborah M. Messemer sold 3,795 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was 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 in the company, valued at $1,020,248. This represents a 21.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,796 shares of company stock valued at $863,028 over the last quarter. Insiders own 0.08% of the company's stock.

PayPal Stock Down 0.5%

NASDAQ:PYPL traded down $0.41 during mid-day trading on Monday, reaching $76.18. The stock had a trading volume of 5,916,204 shares, compared to its average volume of 10,847,292. The company has a market capitalization of $74.09 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 1.25 and a beta of 1.45. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66. The stock's 50 day simple moving average is $71.45 and its two-hundred day simple moving average is $74.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.17. The business had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $1.08 earnings per share. Equities analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

PayPal 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.