NorthCrest Asset Manangement LLC Has $8.43 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

NorthCrest Asset Manangement LLC boosted its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 12.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 129,262 shares of the credit services provider's stock after purchasing an additional 14,632 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in PayPal were worth $8,434,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Mpwm Advisory Solutions LLC purchased a new stake in PayPal during the fourth quarter worth approximately $25,000. Hurley Capital LLC purchased a new stake in PayPal during the fourth quarter worth approximately $27,000. Bernard Wealth Management Corp. purchased a new stake in PayPal during the fourth quarter worth approximately $34,000. Pinney & Scofield Inc. purchased a new stake in PayPal during the fourth quarter worth approximately $35,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in PayPal during the fourth quarter worth approximately $38,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Price Performance

PayPal stock traded down $3.98 during trading hours on Friday, hitting $70.83. 16,734,401 shares of the company traded hands, compared to its average volume of 11,031,080. The firm has a market cap of $68.88 billion, a P/E ratio of 17.66, a P/E/G ratio of 1.27 and a beta of 1.45. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm's 50-day simple moving average is $68.14 and its two-hundred day simple moving average is $75.82. 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 released 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 firm had revenue of $7.79 billion for the quarter, compared to analysts' expectations of $7.84 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. PayPal's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company earned $1.08 EPS. As a group, analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PYPL has been the subject of several research reports. UBS Group decreased their price objective on shares of PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Compass Point initiated coverage on shares of PayPal in a research note on Wednesday, April 23rd. They set a "sell" rating and a $56.00 price objective for the company. Royal Bank of Canada decreased their price objective on shares of PayPal from $104.00 to $88.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Seaport Res Ptn downgraded shares of PayPal from a "hold" rating to a "strong sell" rating in a research note on Thursday, April 17th. Finally, 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. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $83.29.

Insider Activity

In other news, Director Deborah M. Messemer sold 3,795 shares of PayPal stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.00, for a total value of $277,035.00. Following the transaction, the director now directly owns 13,976 shares of the company's stock, valued at $1,020,248. This trade represents a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Suzan Kereere sold 4,162 shares of PayPal stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $304,824.88. Following the completion of the transaction, the insider now directly owns 48,483 shares in the company, valued at approximately $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. In the last quarter, insiders sold 11,796 shares of company stock worth $863,028. Corporate insiders own 0.08% of the company's stock.

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.