PayPal Holdings, Inc. (NASDAQ:PYPL) Stock Position Boosted by QSM Asset Management Ltd

QSM Asset Management Ltd increased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 21.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,531 shares of the credit services provider's stock after purchasing an additional 21,000 shares during the quarter. PayPal accounts for 5.8% of QSM Asset Management Ltd's portfolio, making the stock its 10th largest position. QSM Asset Management Ltd's holdings in PayPal were worth $7,750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mpwm Advisory Solutions LLC purchased a new position in PayPal in the fourth quarter worth about $25,000. Hurley Capital LLC purchased a new position in PayPal in the fourth quarter worth about $27,000. Bernard Wealth Management Corp. purchased a new position in PayPal in the fourth quarter worth about $34,000. Pinney & Scofield Inc. purchased a new position in shares of PayPal in the fourth quarter worth approximately $35,000. Finally, Garde Capital Inc. purchased a new position in shares of PayPal during the 1st quarter worth $28,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of PayPal from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Evercore ISI initiated coverage on PayPal in a research report on Wednesday, April 9th. They set an "in-line" rating and a $65.00 price objective on the stock. Citigroup lowered their price objective on PayPal from $98.00 to $95.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company lowered their price target on shares of PayPal from $80.00 to $74.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Needham & Company LLC restated a "hold" rating on shares of PayPal in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $83.42.

Insider Activity

In related news, Director Deborah M. Messemer sold 3,795 shares of the 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 sale, the director now directly owns 13,976 shares of the company's stock, valued at $1,020,248. This represents a 21.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Diego Scotti sold 3,839 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 16,989 shares in the company, valued at approximately $1,244,274.36. The trade was a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,796 shares of company stock valued at $863,028. 0.08% of the stock is currently owned by company insiders.

PayPal Price Performance

Shares of NASDAQ PYPL traded up $0.47 during mid-day trading on Friday, hitting $73.64. 10,444,645 shares of the company's stock traded hands, compared to its average volume of 10,989,823. The company's 50-day moving average is $70.16 and its two-hundred day moving average is $74.69. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $71.62 billion, a P/E ratio of 16.47, a PEG ratio of 1.21 and a beta of 1.45. 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 issued its quarterly earnings data 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 24.59% and a net margin of 14.26%. The business had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. During the same period in the prior year, the business posted $1.08 earnings per share. The company's quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

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.