Diversify Wealth Management LLC Grows Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Diversify Wealth Management LLC raised its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 25.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 59,849 shares of the credit services provider's stock after purchasing an additional 11,985 shares during the period. Diversify Wealth Management LLC's holdings in PayPal were worth $3,969,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PYPL. Norges Bank purchased a new position in PayPal in the 4th quarter valued at $1,086,508,000. Capital Research Global Investors increased 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 worth $1,529,823,000 after acquiring an additional 9,313,783 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of PayPal by 284.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider's stock worth $666,100,000 after acquiring an additional 5,772,198 shares during the last quarter. FMR LLC increased 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 worth $1,615,134,000 after acquiring an additional 2,161,582 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of PayPal by 124.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,497,415 shares of the credit services provider's stock worth $228,206,000 after acquiring an additional 1,936,520 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company's stock.

PayPal Stock Down 5.7%

Shares of PayPal stock traded down $4.34 on Friday, reaching $71.36. 21,848,497 shares of the company were exchanged, compared to its average volume of 10,864,315. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66. The company has a market cap of $69.40 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 1.24 and a beta of 1.45. 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 stock's 50 day moving average price is $72.31 and its 200-day moving average price is $73.76.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.17. The firm had revenue of $7.79 billion during the quarter, compared to analysts' expectations of $7.84 billion. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The firm's revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.08 earnings per share. As a group, equities analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insider Buying and Selling

In other PayPal news, EVP Diego Scotti sold 3,839 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $281,168.36. Following the completion of the sale, the executive vice president owned 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deborah M. Messemer sold 3,795 shares of the business's 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 completion of the sale, the director owned 13,976 shares of the company's stock, valued at approximately $1,020,248. This represents a 21.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,796 shares of company stock worth $863,028 over the last 90 days. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

PYPL has been the subject of a number of recent research reports. Truist Financial initiated coverage on PayPal in a research note on Monday, June 2nd. They issued a "sell" rating and a $68.00 target price for the company. Wells Fargo & Company cut their target price 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. Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a research note on Wednesday, April 30th. UBS Group cut 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. Finally, Arete Research set a $81.00 price objective on PayPal in a research report on Thursday, March 27th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $83.42.

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.