Kovitz Investment Group Partners LLC Has $22.56 Million Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Kovitz Investment Group Partners LLC increased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 65.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 345,709 shares of the credit services provider's stock after acquiring an additional 136,299 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in PayPal were worth $22,558,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC acquired a new position in shares of PayPal in the fourth quarter worth approximately $25,000. Evermay Wealth Management LLC lifted its stake in shares of PayPal by 726.0% in the first quarter. Evermay Wealth Management LLC now owns 413 shares of the credit services provider's stock worth $27,000 after acquiring an additional 363 shares during the period. Garde Capital Inc. acquired a new position in shares of PayPal in the first quarter worth approximately $28,000. Tsfg LLC lifted its stake in shares of PayPal by 81.6% in the first quarter. Tsfg LLC now owns 445 shares of the credit services provider's stock worth $29,000 after acquiring an additional 200 shares during the period. Finally, Bernard Wealth Management Corp. acquired a new position in shares of PayPal in the fourth quarter worth approximately $34,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PayPal news, EVP Diego Scotti sold 3,839 shares of the company's stock in a transaction on Friday, June 6th. The stock was 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. This represents a 18.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $304,824.88. Following the completion of the transaction, the insider owned 48,483 shares of the company's stock, valued at $3,550,894.92. This trade represents a 7.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,736 shares of company stock worth $1,620,835 over the last 90 days. Company insiders own 0.08% of the company's stock.

PayPal Trading Down 1.8%

Shares of PayPal stock opened at $69.38 on Friday. The stock has a fifty day simple moving average of $72.64 and a 200 day simple moving average of $71.07. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66. The company has a market capitalization of $66.28 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 1.09 and a beta of 1.42. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.10. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.08 billion. PayPal had a return on equity of 25.35% and a net margin of 14.49%. During the same quarter in the prior year, the company earned $1.19 EPS. On average, sell-side analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PYPL. Needham & Company LLC reissued a "hold" rating on shares of PayPal in a research note on Wednesday, April 30th. Barclays reissued an "overweight" rating on shares of PayPal in a research note on Tuesday, July 29th. Compass Point began coverage on PayPal in a research note on Wednesday, April 23rd. They issued a "sell" rating and a $56.00 price target on the stock. BMO Capital Markets reissued a "market perform" rating on shares of PayPal in a research note on Tuesday, July 29th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $88.00 price target on shares of PayPal in a research note on Thursday, June 26th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat.com, PayPal presently has an average rating of "Hold" and a consensus price target of $85.00.

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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