PayPal Holdings, Inc. (NASDAQ:PYPL) Stock Position Increased by Meritage Portfolio Management

Meritage Portfolio Management lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 18.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 225,584 shares of the credit services provider's stock after buying an additional 35,627 shares during the period. PayPal accounts for approximately 1.0% of Meritage Portfolio Management's portfolio, making the stock its 22nd largest holding. Meritage Portfolio Management's holdings in PayPal were worth $14,719,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PYPL. Mpwm Advisory Solutions LLC purchased a new stake in shares of PayPal during the 4th quarter valued at $25,000. Hurley Capital LLC acquired a new position in PayPal in the fourth quarter valued at $27,000. Garde Capital Inc. purchased a new stake in PayPal during the first quarter valued at about $28,000. Tsfg LLC increased its stake in PayPal by 81.6% during 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 last quarter. Finally, Bernard Wealth Management Corp. purchased a new position in shares of PayPal in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 68.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $96.00 price objective on shares of PayPal in a research note on Wednesday, April 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a research report on Wednesday, April 30th. Evercore ISI started coverage on shares of PayPal in a research note on Wednesday, April 9th. They set an "in-line" rating and a $65.00 price objective for the company. BMO Capital Markets cut their target price on shares of PayPal from $83.00 to $79.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Finally, Piper Sandler raised shares of PayPal to a "neutral" rating and set a $74.00 price target for the company in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a sell rating, fifteen have given 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, the company has a consensus rating of "Hold" and an average price target of $83.42.

PayPal Stock Performance

Shares of NASDAQ PYPL traded up $0.10 during midday trading on Thursday, hitting $76.41. The company's stock had a trading volume of 5,263,390 shares, compared to its average volume of 10,872,603. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66. The firm's fifty day moving average price is $70.99 and its 200-day moving average price is $74.38. The firm has a market cap of $74.31 billion, a P/E ratio of 17.09, a P/E/G ratio of 1.25 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.16 by $0.17. The company had revenue of $7.79 billion during 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 business's revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 earnings per share. On average, sell-side analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Buying and Selling at PayPal

In other 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 transaction of $277,035.00. Following the completion of the transaction, 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 the SEC website. Also, EVP Diego Scotti sold 3,839 shares of the business'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 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,796 shares of company stock worth $863,028. 0.08% of the stock is owned by company insiders.

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.