Townsquare Capital LLC Buys 9,486 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Key Points

• Townsquare Capital LLC increased its stake in PayPal Holdings by 19.7% in the first quarter, owning a total of 57,558 shares worth approximately $3.76 million.
• PayPal's stock price decreased to $67.08, with a market capitalization of $64.09 billion and a twelve-month trading range of $55.85 to $93.66.
• Recent earnings reports indicated PayPal surpassed estimates with a $1.40 EPS for the quarter, exceeding the forecast of $1.30 and achieving revenue of $8.29 billion.

Townsquare Capital LLC increased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 19.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,558 shares of the credit services provider's stock after acquiring an additional 9,486 shares during the quarter. Townsquare Capital LLC's holdings in PayPal were worth $3,756,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PYPL. Mpwm Advisory Solutions LLC bought a new position in shares of PayPal during the 4th quarter valued at about $25,000. Bernard Wealth Management Corp. acquired a new stake in PayPal in the 4th quarter valued at approximately $34,000. Pinney & Scofield Inc. acquired a new position in shares of PayPal during the 4th quarter worth about $35,000. Evermay Wealth Management LLC boosted its holdings in shares of PayPal by 726.0% in the 1st quarter. Evermay Wealth Management LLC now owns 413 shares of the credit services provider's stock valued at $27,000 after buying an additional 363 shares during the last quarter. Finally, Garde Capital Inc. bought a new position in shares of PayPal in the 1st quarter valued at about $28,000. Institutional investors own 68.32% of the company's stock.

Analyst Upgrades and Downgrades

PYPL has been the topic of several recent research reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $88.00 price objective on shares of PayPal in a research report on Thursday, June 26th. Compass Point assumed coverage on PayPal in a research report on Wednesday, April 23rd. They set a "sell" rating and a $56.00 price objective for the company. Citigroup restated a "buy" rating on shares of PayPal in a report on Tuesday, July 29th. Morgan Stanley reaffirmed a "positive" rating on shares of PayPal in a research note on Wednesday, July 30th. Finally, UBS Group decreased their target price on PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $85.00.

PayPal Stock Performance

Shares of PayPal stock traded up $0.89 on Tuesday, reaching $67.97. 9,746,637 shares of the company traded hands, compared to its average volume of 12,716,168. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $64.94 billion, a PE ratio of 14.52, a PEG ratio of 1.03 and a beta of 1.42. The company has a 50 day moving average of $72.81 and a 200 day moving average of $71.24. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.10. PayPal had a return on equity of 25.35% and a net margin of 14.49%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.08 billion. During the same period last year, the business posted $1.19 earnings per share. Equities analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Insiders Place Their Bets

In other PayPal news, CAO Chris Natali sold 7,102 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $69.35, for a total value of $492,523.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the director directly owned 13,976 shares in the company, valued at approximately $1,020,248. This represents a 21.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,736 shares of company stock worth $1,620,835 over the last three months. 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.