Matrix Asset Advisors Inc. NY Purchases 11,218 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Matrix Asset Advisors Inc. NY grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 225,281 shares of the credit services provider's stock after purchasing an additional 11,218 shares during the period. PayPal comprises about 1.6% of Matrix Asset Advisors Inc. NY's holdings, making the stock its 28th biggest holding. Matrix Asset Advisors Inc. NY's holdings in PayPal were worth $14,700,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of PayPal by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider's stock valued at $1,849,884,000 after purchasing an additional 271,836 shares during the last quarter. FMR LLC lifted its stake in PayPal by 12.9% in the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock worth $1,615,134,000 after acquiring an additional 2,161,582 shares in the last quarter. Capital Research Global Investors lifted its stake in PayPal by 108.2% in the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock worth $1,529,823,000 after acquiring an additional 9,313,783 shares in the last quarter. Norges Bank purchased a new stake in PayPal in the 4th quarter worth about $1,086,508,000. Finally, Northern Trust Corp lifted its stake in PayPal by 19.0% in the 4th quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider's stock worth $892,953,000 after acquiring an additional 1,669,908 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Performance

PYPL traded up $1.48 during midday trading on Friday, reaching $70.05. The company's stock had a trading volume of 18,484,205 shares, compared to its average volume of 11,012,217. The stock has a market cap of $68.13 billion, a P/E ratio of 15.67, a PEG ratio of 1.16 and a beta of 1.45. The company has a fifty day simple moving average of $68.98 and a 200 day simple moving average of $75.06. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66.

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

Insider Buying and Selling at PayPal

In other PayPal news, EVP Diego Scotti sold 3,839 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now owns 16,989 shares in the company, valued at approximately $1,244,274.36. This trade represents a 18.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suzan Kereere sold 4,162 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $304,824.88. Following the completion of the sale, the insider now owns 48,483 shares of the company's stock, valued at $3,550,894.92. This represents a 7.91% 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 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on PYPL. Needham & Company LLC reissued a "hold" rating on shares of PayPal in a research note on Wednesday, April 30th. Piper Sandler reduced their price objective on PayPal from $76.00 to $70.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Barclays reduced their price objective on PayPal from $110.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Wall Street Zen raised PayPal from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Finally, BMO Capital Markets reduced their price objective on PayPal from $83.00 to $79.00 and set a "market perform" rating for the company in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, PayPal presently has a consensus rating of "Hold" and an average price target of $83.29.

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.