Penserra Capital Management LLC Grows Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Penserra Capital Management LLC boosted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 291,752 shares of the credit services provider's stock after purchasing an additional 3,856 shares during the period. Penserra Capital Management LLC's holdings in PayPal were worth $19,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its holdings in PayPal by 15.2% during the fourth 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 last quarter. Revolve Wealth Partners LLC purchased a new stake in PayPal during the fourth quarter valued at approximately $248,000. Steward Partners Investment Advisory LLC increased its holdings in PayPal by 36.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 36,406 shares of the credit services provider's stock valued at $3,107,000 after buying an additional 9,636 shares during the last quarter. Assetmark Inc. increased its holdings in PayPal by 492.4% during the fourth quarter. Assetmark Inc. now owns 1,410 shares of the credit services provider's stock valued at $120,000 after buying an additional 1,172 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in PayPal during the fourth quarter valued at approximately $216,000. Institutional investors own 68.32% of the company's stock.

PayPal Trading Down 0.3%

PYPL stock traded down $0.20 during trading on Wednesday, hitting $74.83. The company had a trading volume of 6,703,353 shares, compared to its average volume of 10,824,774. The firm has a market capitalization of $72.77 billion, a P/E ratio of 16.74, a PEG ratio of 1.24 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 50 day simple moving average of $71.84 and a 200-day simple moving average of $73.94. 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 posted its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $7.84 billion. During the same quarter in the previous year, the business posted $1.08 EPS. The company's quarterly revenue was up 1.2% compared to the same quarter last year. As a group, research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Suzan Kereere sold 4,162 shares of PayPal stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $304,824.88. Following the transaction, the insider owned 48,483 shares of the company's stock, valued at $3,550,894.92. The trade was a 7.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Diego Scotti sold 3,839 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 transaction of $281,168.36. Following the completion of the transaction, the executive vice president directly owned 16,989 shares in the company, valued at approximately $1,244,274.36. The trade was a 18.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,796 shares of company stock worth $863,028. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Robert W. Baird upped their target price on shares of PayPal from $78.00 to $79.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Macquarie reduced their price objective on shares of PayPal from $117.00 to $95.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. BMO Capital Markets reduced their price objective on shares of PayPal from $83.00 to $79.00 and set a "market perform" rating for the company in a research note on Wednesday, April 30th. Piper Sandler raised shares of PayPal to a "neutral" rating and set a $74.00 price objective for the company in a research note on Tuesday, June 24th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of PayPal from $104.00 to $85.00 and set an "outperform" rating for the company in a research note on Monday, March 31st. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target 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.