NorthCrest Asset Manangement LLC Acquires 14,632 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

NorthCrest Asset Manangement LLC raised its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 12.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 SEC filing.

A number of other large investors have also recently modified their holdings of PYPL. Geode Capital Management LLC lifted its stake in shares of PayPal by 1.3% in the 4th 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 acquiring an additional 271,836 shares during the last quarter. FMR LLC lifted its stake in shares of PayPal by 12.9% in the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock valued at $1,615,134,000 after acquiring an additional 2,161,582 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of 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 valued at $1,529,823,000 after acquiring an additional 9,313,783 shares during the last quarter. Norges Bank bought a new position in shares of PayPal in the 4th quarter valued at $1,086,508,000. Finally, Northern Trust Corp lifted its stake in shares of PayPal by 19.0% in the 4th quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider's stock valued at $892,953,000 after acquiring an additional 1,669,908 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.

Insider Transactions 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 value of $277,035.00. Following the transaction, the director now owns 13,976 shares in the company, valued at $1,020,248. The trade was a 21.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suzan Kereere sold 4,162 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $304,824.88. Following the completion of the transaction, the insider now owns 48,483 shares in the company, valued at approximately $3,550,894.92. The trade was 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 worth $863,028 in the last 90 days. Insiders own 0.08% of the company's stock.

PayPal Stock Down 5.3%

PYPL stock traded down $3.98 during mid-day trading on Friday, reaching $70.83. 16,734,401 shares of the company traded hands, compared to its average volume of 11,031,389. The stock has a market cap of $68.88 billion, a price-to-earnings 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. PayPal Holdings, Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $93.66. The firm's 50 day moving average price is $67.88 and its 200 day moving average price is $75.93.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly 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. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. During the same quarter in the previous year, the business earned $1.08 EPS. The company's quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PYPL has been the subject of a number of research reports. Macquarie dropped their price target on PayPal from $117.00 to $95.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. Wells Fargo & Company dropped their price target on PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Monness Crespi & Hardt lowered their target price on PayPal from $120.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Compass Point started coverage on PayPal in a research report on Wednesday, April 23rd. They set a "sell" rating and a $56.00 target price for the company. Finally, UBS Group lowered their target price on PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $83.29.

PayPal Company 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.