Red Door Wealth Management LLC Acquires 7,326 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Red Door Wealth Management LLC raised its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 15.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,415 shares of the credit services provider's stock after buying an additional 7,326 shares during the period. Red Door Wealth Management LLC's holdings in PayPal were worth $3,616,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Canandaigua National Trust Co of Florida raised its position in shares of PayPal by 4.4% in the first quarter. Canandaigua National Trust Co of Florida now owns 11,690 shares of the credit services provider's stock valued at $763,000 after purchasing an additional 490 shares during the period. LifePlan Financial LLC grew its stake in PayPal by 2.2% in the 1st quarter. LifePlan Financial LLC now owns 23,072 shares of the credit services provider's stock valued at $1,505,000 after buying an additional 497 shares during the last quarter. Amalgamated Bank grew its position in shares of PayPal by 0.4% in the first quarter. Amalgamated Bank now owns 198,099 shares of the credit services provider's stock valued at $12,926,000 after purchasing an additional 846 shares during the last quarter. Buttonwood Financial Advisors Inc. increased its stake in shares of PayPal by 5.6% during the first quarter. Buttonwood Financial Advisors Inc. now owns 7,099 shares of the credit services provider's stock worth $463,000 after purchasing an additional 375 shares during the period. Finally, Waterfront Wealth Inc. lifted its holdings in PayPal by 4.8% during the 1st quarter. Waterfront Wealth Inc. now owns 36,747 shares of the credit services provider's stock worth $2,398,000 after purchasing an additional 1,673 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Trading Up 0.9%

Shares of PayPal stock traded up $0.68 during trading on Monday, hitting $74.32. The company's stock had a trading volume of 7,734,711 shares, compared to its average volume of 10,908,359. The stock has a market cap of $72.28 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 1.22 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 stock has a 50-day moving average price of $70.16 and a two-hundred day moving average price of $74.48. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS 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 firm had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. During the same period in the previous year, the business earned $1.08 EPS. The business's quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on PYPL. Macquarie decreased their price objective on PayPal from $117.00 to $95.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Needham & Company LLC restated a "hold" rating on shares of PayPal in a research note on Wednesday, April 30th. BMO Capital Markets lowered their price target on shares of PayPal from $83.00 to $79.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 30th. Royal Bank Of Canada reissued an "outperform" rating and issued a $88.00 price objective on shares of PayPal in a report on Thursday. Finally, Keefe, Bruyette & Woods decreased their target price on shares of PayPal from $104.00 to $85.00 and set an "outperform" rating on the stock in a research report on Monday, March 31st. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $83.42.

Insider Activity at PayPal

In other news, EVP Diego Scotti sold 3,839 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $281,168.36. Following the sale, the executive vice president directly owned 16,989 shares of the company's stock, valued at approximately $1,244,274.36. This represents a 18.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $277,035.00. Following the transaction, the director directly owned 13,976 shares of the company's stock, valued at $1,020,248. This represents a 21.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,796 shares of company stock worth $863,028 over the last ninety days. Insiders own 0.08% of the company's stock.

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.