GLOBALT Investments LLC GA Grows Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Key Points

• GLOBALT Investments LLC significantly increased its stake in PayPal by 115.1%, acquiring a total of 13,683 shares valued at approximately $893,000.
• PayPal reported an EPS of $1.33 for the recent quarter, exceeding expectations, although its revenue of $7.79 billion fell short of analyst estimates.
• Wall Street ratings on PayPal show a mix of sentiments, with a consensus rating of "Hold" and an average target price of $83.13 following various analysts' evaluations.

GLOBALT Investments LLC GA boosted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 115.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,683 shares of the credit services provider's stock after buying an additional 7,323 shares during the period. GLOBALT Investments LLC GA's holdings in PayPal were worth $893,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC bought a new stake in PayPal during the 4th quarter valued at approximately $25,000. Hurley Capital LLC bought a new stake in shares of PayPal in the 4th quarter worth approximately $27,000. Bernard Wealth Management Corp. bought a new stake in shares of PayPal in the 4th quarter worth approximately $34,000. Pinney & Scofield Inc. acquired a new position in shares of PayPal in the 4th quarter worth approximately $35,000. Finally, Garde Capital Inc. acquired a new position in shares of PayPal in the 1st quarter worth approximately $28,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Piper Sandler set a $74.00 target price on PayPal in a report on Tuesday. Truist Financial started coverage on PayPal in a report on Monday, June 2nd. They set a "sell" rating and a $68.00 price target for the company. Canaccord Genuity Group reaffirmed a "buy" rating and set a $96.00 price target on shares of PayPal in a report on Wednesday, April 30th. UBS Group dropped their price target on PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PayPal has a consensus rating of "Hold" and an average price target of $84.10.

Insider Transactions at PayPal

In other PayPal news, Director Deborah M. Messemer sold 3,795 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.00, for a total transaction of $277,035.00. Following the sale, the director owned 13,976 shares in the company, valued at $1,020,248. This represents a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Diego Scotti sold 3,839 shares of PayPal stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $281,168.36. Following the sale, the executive vice president directly owned 16,989 shares of the company's stock, valued at $1,244,274.36. This represents a 18.43% decrease in their position. The disclosure for this sale can be found here. Insiders 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 insiders.

PayPal Trading Down 0.9%

Shares of PYPL stock traded down $0.64 during mid-day trading on Wednesday, hitting $70.81. The company's stock had a trading volume of 8,381,254 shares, compared to its average volume of 11,121,255. The company's fifty day simple moving average is $73.29 and its 200-day simple moving average is $72.68. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market cap of $68.86 billion, a PE ratio of 15.84, a P/E/G ratio of 1.29 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.10. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.08 billion. During the same period in the prior year, the business earned $1.19 EPS. As a group, equities research analysts expect 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.