PFG Investments LLC Raises Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

PFG Investments LLC increased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 32.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,419 shares of the credit services provider's stock after purchasing an additional 4,741 shares during the period. PFG Investments LLC's holdings in PayPal were worth $1,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PYPL. Norges Bank acquired a new stake in PayPal during the fourth quarter valued at $1,086,508,000. Capital Research Global Investors grew its position in PayPal by 108.2% during the fourth quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock valued at $1,529,823,000 after buying an additional 9,313,783 shares during the period. Artisan Partners Limited Partnership grew its position in PayPal by 284.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider's stock valued at $666,100,000 after buying an additional 5,772,198 shares during the period. FMR LLC grew its position in PayPal by 12.9% during the fourth quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock valued at $1,615,134,000 after buying an additional 2,161,582 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in PayPal by 124.1% during the first quarter. Assenagon Asset Management S.A. now owns 3,497,415 shares of the credit services provider's stock valued at $228,206,000 after buying an additional 1,936,520 shares during the period. Hedge funds and other institutional investors own 68.32% of the company's stock.

Analyst Ratings Changes

PYPL has been the topic of several analyst reports. Robert W. Baird raised their price target on shares of PayPal from $78.00 to $79.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Citigroup dropped their target price on shares of PayPal from $98.00 to $95.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Monness Crespi & Hardt dropped their target price on shares of PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Seaport Res Ptn lowered shares of PayPal from a "hold" rating to a "strong sell" rating in a research report on Thursday, April 17th. Finally, Barclays dropped their target price on shares of PayPal from $110.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $83.29.

Insider Transactions at PayPal

In other news, Director Deborah M. Messemer sold 3,795 shares of the company'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 transaction, the director now directly owns 13,976 shares in the company, valued at approximately $1,020,248. This represents a 21.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Suzan Kereere sold 4,162 shares of the 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 $304,824.88. Following the sale, the insider now owns 48,483 shares in the company, valued at approximately $3,550,894.92. This trade represents a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,796 shares of company stock worth $863,028. 0.08% of the stock is currently owned by insiders.

PayPal Stock Performance

PayPal stock opened at $70.05 on Monday. The firm has a 50 day simple moving average of $68.98 and a 200-day simple moving average of $75.06. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66. 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 has a market cap of $68.13 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 1.16 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share 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 analysts' expectations of $7.84 billion. During the same quarter in the prior year, the company posted $1.08 EPS. The business's revenue for the quarter was up 1.2% on a year-over-year basis. On average, analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

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.

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