Root Financial Partners LLC Boosts Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Root Financial Partners LLC raised its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 254.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,621 shares of the credit services provider's stock after purchasing an additional 6,186 shares during the quarter. Root Financial Partners LLC's holdings in PayPal were worth $563,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. J. Goldman & Co LP raised its position in shares of PayPal by 11.9% in the fourth quarter. J. Goldman & Co LP now owns 261,322 shares of the credit services provider's stock worth $22,304,000 after acquiring an additional 27,812 shares during the period. Nikko Asset Management Americas Inc. raised its position in shares of PayPal by 2.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider's stock worth $59,489,000 after acquiring an additional 18,172 shares during the period. ExodusPoint Capital Management LP raised its position in shares of PayPal by 223.1% in the fourth quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider's stock worth $22,622,000 after acquiring an additional 183,011 shares during the period. StoneX Group Inc. raised its position in shares of PayPal by 70.4% in the fourth quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider's stock worth $2,326,000 after acquiring an additional 11,260 shares during the period. Finally, Ring Mountain Capital LLC acquired a new position in shares of PayPal in the fourth quarter worth about $581,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Performance

PayPal stock opened at $73.64 on Friday. The firm has a 50 day simple moving average of $70.16 and a 200-day simple moving average of $74.58. 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 $71.62 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 1.22 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.

Insider Buying and Selling

In other PayPal news, EVP Diego Scotti sold 3,839 shares of the firm's 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 completion of the transaction, the executive vice president now owns 16,989 shares of the company's stock, valued at $1,244,274.36. This trade represents a 18.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Suzan Kereere sold 4,162 shares of the firm's 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 of the company's stock, valued at $3,550,894.92. This represents a 7.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,796 shares of company stock valued at $863,028. Company insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on PYPL shares. BMO Capital Markets decreased their price objective on shares of PayPal from $83.00 to $79.00 and set a "market perform" rating for the company in a research report on Wednesday, April 30th. UBS Group cut their target price on shares of PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Seaport Res Ptn downgraded shares of PayPal from a "hold" rating to a "strong sell" rating in a research report on Thursday, April 17th. Canaccord Genuity Group restated a "buy" rating and set a $96.00 price target on shares of PayPal in a research report on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of PayPal from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $83.42.

PayPal Company 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.

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