Ritholtz Wealth Management Buys 7,492 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Ritholtz Wealth Management increased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 67.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,618 shares of the credit services provider's stock after acquiring an additional 7,492 shares during the quarter. Ritholtz Wealth Management's holdings in PayPal were worth $1,215,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PYPL. Mpwm Advisory Solutions LLC bought a new position in shares of PayPal during the 4th quarter worth about $25,000. Hurley Capital LLC bought a new stake in PayPal in the fourth quarter valued at about $27,000. Bernard Wealth Management Corp. bought a new stake in PayPal in the fourth quarter valued at about $34,000. Pinney & Scofield Inc. bought a new stake in PayPal in the fourth quarter valued at about $35,000. Finally, Fourth Dimension Wealth LLC bought a new stake in PayPal in the fourth quarter valued at about $38,000. Institutional investors own 68.32% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their price objective on PayPal from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Piper Sandler lowered their target price 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. Citigroup lowered their target price on shares of PayPal from $98.00 to $95.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Wall Street Zen raised shares of PayPal from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Finally, Barclays decreased their price objective on shares of PayPal from $110.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. 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. According to data from MarketBeat.com, PayPal has a consensus rating of "Hold" and an average target price of $83.29.

Insider Transactions at PayPal

In other PayPal news, EVP Diego Scotti sold 3,839 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 $281,168.36. Following the transaction, the executive vice president now owns 16,989 shares of the company's stock, valued at approximately $1,244,274.36. The trade was a 18.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $304,824.88. Following the completion of the transaction, the insider now directly owns 48,483 shares in the company, valued at approximately $3,550,894.92. The trade was a 7.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,796 shares of company stock valued at $863,028 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

PayPal Price Performance

PayPal stock opened at $70.67 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $68.73 billion, a P/E ratio of 15.81, a PEG ratio of 1.20 and a beta of 1.45. The business has a 50-day moving average of $68.58 and a 200-day moving average of $75.53. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings data 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 net margin of 14.26% and a return on equity of 24.59%. The business had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. During the same quarter last year, the firm earned $1.08 EPS. PayPal's quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current 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.

Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.