Procyon Advisors LLC Acquires 18,360 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Procyon Advisors LLC lifted its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 44.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,079 shares of the credit services provider's stock after acquiring an additional 18,360 shares during the period. Procyon Advisors LLC's holdings in PayPal were worth $3,920,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PYPL. Geode Capital Management LLC raised its holdings in shares of PayPal by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider's stock worth $1,849,884,000 after purchasing an additional 271,836 shares in the last quarter. FMR LLC raised its holdings in shares of PayPal by 12.9% in the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock worth $1,615,134,000 after purchasing an additional 2,161,582 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of 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 acquiring an additional 9,313,783 shares during the period. Norges Bank acquired a new stake in shares of PayPal during the fourth quarter valued at approximately $1,086,508,000. Finally, Northern Trust Corp raised its holdings in shares of PayPal by 19.0% during the fourth quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider's stock valued at $892,953,000 after acquiring an additional 1,669,908 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Deborah M. Messemer sold 3,795 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the sale, the director now owns 13,976 shares in the company, valued at $1,020,248. This trade represents a 21.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company's stock.

PayPal Stock Performance

PayPal stock traded up $0.96 during mid-day trading on Friday, reaching $73.43. The company had a trading volume of 7,237,245 shares, compared to its average volume of 11,101,606. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. 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 moving average of $66.84 and a 200-day moving average of $76.25. The firm has a market cap of $71.41 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.27 and a beta of 1.51.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.17. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. During the same period in the prior year, the firm earned $1.08 EPS. The business's revenue was up 1.2% on a year-over-year basis. On average, sell-side analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PYPL. Piper Sandler cut their price target on shares of PayPal from $76.00 to $70.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Compass Point assumed coverage on shares of PayPal in a report on Wednesday, April 23rd. They set a "sell" rating and a $56.00 price target on the stock. Seaport Res Ptn lowered shares of PayPal from a "hold" rating to a "strong sell" rating in a research note on Thursday, April 17th. Needham & Company LLC reiterated a "hold" rating on shares of PayPal in a research note on Wednesday, April 30th. Finally, Macquarie dropped their price objective on shares of PayPal from $117.00 to $95.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have assigned a buy rating and one has issued 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 $83.29.

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.