Proffitt & Goodson Inc. Purchases Shares of 8,196 PayPal Holdings, Inc. (NASDAQ:PYPL)

Proffitt & Goodson Inc. bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,196 shares of the credit services provider's stock, valued at approximately $535,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of PayPal by 1.3% in the fourth 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 during the period. FMR LLC grew its holdings in PayPal by 12.9% in the 4th 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 last quarter. Capital Research Global Investors increased its position in PayPal by 108.2% in the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock worth $1,529,823,000 after buying an additional 9,313,783 shares during the period. Norges Bank bought a new position in PayPal in the 4th quarter worth approximately $1,086,508,000. Finally, Northern Trust Corp lifted 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 worth $892,953,000 after buying an additional 1,669,908 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.

Insider Activity at PayPal

In other news, Director Deborah M. Messemer sold 3,795 shares of PayPal stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.00, for a total value of $277,035.00. Following the completion of the transaction, the director directly owned 13,976 shares in the company, valued at approximately $1,020,248. The trade was a 21.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suzan Kereere sold 4,162 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $304,824.88. Following the sale, the insider directly owned 48,483 shares in the company, valued at $3,550,894.92. This trade represents a 7.91% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,796 shares of company stock worth $863,028. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PYPL shares. Wells Fargo & Company reduced their price target 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. Citigroup reduced their target price on shares of PayPal from $98.00 to $95.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Barclays lowered their price target on PayPal from $110.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Compass Point initiated coverage on PayPal in a research report on Wednesday, April 23rd. They issued a "sell" rating and a $56.00 price objective for the company. Finally, Piper Sandler upgraded PayPal to a "neutral" rating and set a $74.00 price objective on the stock in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $83.42.

PayPal Stock Performance

NASDAQ PYPL traded up $0.10 on Friday, hitting $76.41. 5,263,390 shares of the stock traded hands, compared to its average volume of 10,867,096. The firm has a market capitalization of $74.31 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.25 and a beta of 1.45. The business's fifty day moving average is $71.45 and its two-hundred day moving average is $74.10. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66.

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, topping the consensus estimate of $1.16 by $0.17. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The company had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. During the same quarter in the prior year, the company earned $1.08 EPS. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

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.