Invesco Ltd. Has $620.92 Million Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Key Points

• Invesco Ltd. increased its stake in PayPal by 14.9% during the first quarter, acquiring a total of 9,516,070 shares valued at approximately $620.9 million.
• Analysts have mixed sentiment on PayPal, with two analysts rating it as a sell, while eighteen rated it as a buy, resulting in a consensus rating of "Hold" and an average price target of $85.00.
• PayPal's stock opened at $67.65 on Friday, down 0.8%, with a fifty-two week range between $55.85 and $93.66.

Invesco Ltd. increased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 14.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,516,070 shares of the credit services provider's stock after buying an additional 1,232,155 shares during the period. Invesco Ltd. owned 0.98% of PayPal worth $620,924,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in PYPL. Brighton Jones LLC increased its holdings in PayPal by 15.2% in the 4th quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider's stock valued at $596,000 after buying an additional 924 shares during the period. Revolve Wealth Partners LLC acquired a new stake in shares of PayPal during the 4th quarter worth approximately $248,000. Martingale Asset Management L P acquired a new stake in shares of PayPal during the 4th quarter worth approximately $459,000. Bessemer Group Inc. increased its stake in PayPal by 7.1% in the fourth quarter. Bessemer Group Inc. now owns 15,715 shares of the credit services provider's stock valued at $1,340,000 after acquiring an additional 1,035 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC raised its position in PayPal by 14.1% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 9,546 shares of the credit services provider's stock valued at $815,000 after purchasing an additional 1,180 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group cut their target price on PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Citigroup reissued a "buy" rating on shares of PayPal in a report on Tuesday, July 29th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $88.00 price objective on shares of PayPal in a research note on Thursday, June 26th. Piper Sandler set a $74.00 target price on PayPal in a research report on Tuesday, July 29th. Finally, Wells Fargo & Company dropped their target price 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. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $85.00.

PayPal Trading Down 0.8%

PayPal stock traded down $0.57 during mid-day trading on Friday, hitting $67.65. 9,663,964 shares of the stock were exchanged, compared to its average volume of 12,859,930. The stock has a market capitalization of $64.63 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.04 and a beta of 1.42. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.56. The firm's fifty day simple moving average is $72.89 and its two-hundred day simple moving average is $71.40.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.10. The company had revenue of $8.29 billion during the quarter, compared to analysts' expectations of $8.08 billion. PayPal had a net margin of 14.49% and a return on equity of 25.35%. During the same period in the prior year, the company posted $1.19 earnings per share. Analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insiders Place Their Bets

In other PayPal news, insider Suzan Kereere sold 4,162 shares of PayPal 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 $304,824.88. Following the completion of the sale, the insider directly owned 48,483 shares in the company, valued at approximately $3,550,894.92. The trade was a 7.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Diego Scotti sold 3,838 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $69.12, for a total value of $265,282.56. Following the completion of the transaction, the executive vice president directly owned 16,989 shares in the company, valued at approximately $1,174,279.68. This trade represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,736 shares of company stock valued at $1,620,835. 0.08% of the stock is currently owned by 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.