PayPal Holdings, Inc. (NASDAQ:PYPL) is Equity Investment Corp's 10th Largest Position

Equity Investment Corp raised its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 7.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,983,262 shares of the credit services provider's stock after buying an additional 133,382 shares during the period. PayPal comprises about 2.9% of Equity Investment Corp's holdings, making the stock its 10th largest position. Equity Investment Corp owned approximately 0.20% of PayPal worth $129,408,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Mpwm Advisory Solutions LLC bought a new position in shares of PayPal during the fourth quarter valued at about $25,000. Hurley Capital LLC bought a new position in shares of PayPal during the fourth quarter valued at about $27,000. Bernard Wealth Management Corp. bought a new position in shares of PayPal during the fourth quarter valued at about $34,000. Pinney & Scofield Inc. bought a new position in shares of PayPal during the fourth quarter valued at about $35,000. Finally, Garde Capital Inc. bought a new position in shares of PayPal during the first quarter valued at about $28,000. 68.32% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Deborah M. Messemer sold 3,795 shares of the company's stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Diego Scotti sold 3,839 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $281,168.36. Following the completion of the sale, the executive vice president directly owned 16,989 shares of the company's stock, valued at $1,244,274.36. This trade represents a 18.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,796 shares of company stock valued at $863,028. Corporate insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

PYPL has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price objective on shares of PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. UBS Group decreased their price objective on shares of PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Robert W. Baird raised their price objective on shares of PayPal from $78.00 to $79.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Needham & Company LLC reiterated a "hold" rating on shares of PayPal in a research note on Wednesday, April 30th. Finally, Piper Sandler upgraded shares of PayPal to a "neutral" rating and set a $74.00 target price for the company in a research note on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $83.13.

PayPal Price Performance

PYPL stock traded up $0.16 during midday trading on Friday, reaching $74.02. The company had a trading volume of 2,682,422 shares, compared to its average volume of 10,847,800. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The company has a market capitalization of $71.99 billion, a P/E ratio of 16.52, a P/E/G ratio of 1.19 and a beta of 1.45. The firm has a 50-day moving average price of $72.67 and a 200-day moving average price of $73.38.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly 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 net margin of 14.26% and a return on equity of 24.59%. The business had revenue of $7.79 billion during the quarter, compared to analysts' expectations of $7.84 billion. During the same quarter in the previous year, the company earned $1.08 EPS. The business's quarterly revenue was up 1.2% compared to the same quarter last year. On average, research analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share 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.