Spire Wealth Management Boosts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Spire Wealth Management grew its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 57.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,671 shares of the credit services provider's stock after buying an additional 15,183 shares during the period. Spire Wealth Management's holdings in PayPal were worth $2,719,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PYPL. Avalon Trust Co raised its holdings in PayPal by 7.0% in the fourth quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider's stock worth $176,000 after purchasing an additional 135 shares in the last quarter. Security National Bank of SO Dak boosted its holdings in shares of PayPal by 1.1% during the 4th quarter. Security National Bank of SO Dak now owns 12,191 shares of the credit services provider's stock valued at $1,041,000 after buying an additional 137 shares in the last quarter. Stegent Equity Advisors Inc. grew its position in shares of PayPal by 3.2% in the 4th quarter. Stegent Equity Advisors Inc. now owns 4,546 shares of the credit services provider's stock worth $388,000 after buying an additional 142 shares during the period. Cohen & Steers Inc. grew its position in shares of PayPal by 5.1% in the 4th quarter. Cohen & Steers Inc. now owns 3,016 shares of the credit services provider's stock worth $257,000 after buying an additional 145 shares during the period. Finally, Redwood Financial Network Corp increased its stake in shares of PayPal by 4.8% in the 4th quarter. Redwood Financial Network Corp now owns 3,208 shares of the credit services provider's stock worth $274,000 after acquiring an additional 147 shares in the last quarter. Institutional investors own 68.32% of the company's stock.

PayPal Stock Performance

NASDAQ:PYPL traded up $0.10 on Thursday, hitting $73.17. The stock had a trading volume of 10,230,438 shares, compared to its average volume of 11,000,996. The business's 50-day simple moving average is $69.66 and its two-hundred day simple moving average is $74.91. The stock has a market cap of $71.16 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. PayPal Holdings, Inc. has a 52-week low of $55.85 and a 52-week high of $93.66. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

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 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 company had revenue of $7.79 billion for the quarter, compared to analysts' expectations of $7.84 billion. During the same period last year, the firm earned $1.08 EPS. PayPal's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, research analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on PYPL shares. DZ Bank raised shares of PayPal from a "hold" rating to a "buy" rating and set a $92.00 price objective on the stock in a research note on Friday, February 28th. Canaccord Genuity Group reissued a "buy" rating and issued a $96.00 price target on shares of PayPal in a research report on Wednesday, April 30th. UBS Group reduced their price objective on PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Wall Street Zen upgraded PayPal from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Finally, Barclays cut their target price on PayPal from $110.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $83.42.

Insider Buying and Selling at PayPal

In related news, insider Suzan Kereere sold 4,162 shares of the stock in a transaction dated 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 sale, the insider now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Diego Scotti sold 3,839 shares of the company's 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 transaction, the executive vice president now owns 16,989 shares of the company's stock, valued at $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. Insiders have sold a total of 11,796 shares of company stock valued at $863,028 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

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.