Moran Wealth Management LLC Acquires Shares of 139,448 PayPal Holdings, Inc. (NASDAQ:PYPL)

Moran Wealth Management LLC acquired a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 139,448 shares of the credit services provider's stock, valued at approximately $9,099,000.

A number of other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC grew its position in shares of PayPal by 15.2% in the fourth quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider's stock valued at $596,000 after purchasing an additional 924 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in PayPal during the 4th quarter valued at approximately $248,000. ING Groep NV acquired a new stake in PayPal in the 4th quarter valued at approximately $592,000. Sigma Planning Corp increased its position in PayPal by 11.3% in the 4th quarter. Sigma Planning Corp now owns 14,178 shares of the credit services provider's stock worth $1,210,000 after buying an additional 1,442 shares during the period. Finally, TCW Group Inc. lifted its holdings in shares of PayPal by 110.6% during the fourth quarter. TCW Group Inc. now owns 29,847 shares of the credit services provider's stock worth $2,547,000 after buying an additional 15,672 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

PayPal Stock Down 0.7%

NASDAQ PYPL traded down $0.51 during trading on Wednesday, hitting $73.07. The stock had a trading volume of 7,845,195 shares, compared to its average volume of 10,997,503. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. The company's 50-day moving average price is $69.40 and its two-hundred day moving average price is $74.93. The company has a market capitalization of $71.06 billion, a PE ratio of 16.35, a P/E/G ratio of 1.19 and a beta of 1.45.

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

Insider Activity at PayPal

In other news, Director Deborah M. Messemer sold 3,795 shares of PayPal stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.00, for a total value of $277,035.00. Following the completion of the transaction, the director now owns 13,976 shares of the company's stock, valued at $1,020,248. This trade represents a 21.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Suzan Kereere sold 4,162 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 transaction 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 trade represents a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,796 shares of company stock valued at $863,028. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of PayPal from $110.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company reduced their price target on shares of PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Bank of America dropped their price objective on shares of PayPal from $103.00 to $93.00 and set a "buy" rating on the stock in a report on Monday, April 14th. DZ Bank upgraded shares of PayPal from a "hold" rating to a "buy" rating and set a $92.00 target price for the company in a research note on Friday, February 28th. Finally, Monness Crespi & Hardt decreased their target price on PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $83.42.

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.