Mackenzie Financial Corp Acquires 10,673 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Key Points

• Mackenzie Financial Corp increased its holdings in PayPal by 9.1%, acquiring 10,673 shares to bring their total to 127,361 shares, valued at approximately $8.31 million.
• PayPal's stock is currently down 1.4% with shares opening at $68.76, while the company has a market cap of $65.69 billion.
• Recent insider selling includes director Deborah M. Messemer and EVP Diego Scotti, who sold 3,795 and 3,839 shares, respectively, both reporting significant decreases in their ownership stakes.

Mackenzie Financial Corp lifted its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 9.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,361 shares of the credit services provider's stock after buying an additional 10,673 shares during the period. Mackenzie Financial Corp's holdings in PayPal were worth $8,310,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC acquired a new stake in shares of PayPal in the 4th quarter valued at $25,000. Hurley Capital LLC acquired a new stake in shares of PayPal in the 4th quarter valued at $27,000. Garde Capital Inc. acquired a new stake in shares of PayPal in the 1st quarter valued at $28,000. Tsfg LLC increased its stake in shares of PayPal by 81.6% in the 1st quarter. Tsfg LLC now owns 445 shares of the credit services provider's stock valued at $29,000 after buying an additional 200 shares during the period. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of PayPal in the 4th quarter valued at $34,000. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Stock Down 2.4%

Shares of NASDAQ:PYPL traded down $1.65 during midday trading on Friday, reaching $67.11. The company had a trading volume of 15,163,964 shares, compared to its average volume of 11,875,645. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.56. The business's 50 day moving average price is $73.14 and its 200 day moving average price is $72.41. The stock has a market cap of $64.12 billion, a PE ratio of 14.34, a P/E/G ratio of 1.06 and a beta of 1.42. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.10. The firm had revenue of $8.29 billion for 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 previous year, the business earned $1.19 earnings per share. Research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Transactions at PayPal

In related news, Director Deborah M. Messemer sold 3,795 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.00, for a total value of $277,035.00. Following the completion of the sale, the director directly owned 13,976 shares in the company, valued at approximately $1,020,248. The trade was a 21.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Chris Natali sold 7,102 shares of the company's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $69.35, for a total value of $492,523.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,736 shares of company stock worth $1,620,835. Insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PYPL. Wall Street Zen raised PayPal from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Evercore ISI assumed coverage on PayPal in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $65.00 price target on the stock. Barclays restated an "overweight" rating on shares of PayPal in a research report on Tuesday. Robert W. Baird raised their price target on PayPal from $78.00 to $79.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Finally, Truist Financial assumed coverage on PayPal in a research report on Monday, June 2nd. They issued a "sell" rating and a $68.00 price target on the stock. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, PayPal currently has a consensus rating of "Moderate Buy" and an average target price of $84.57.

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.