Sound Shore Management Inc. CT Increases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Sound Shore Management Inc. CT grew its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 17.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,239,788 shares of the credit services provider's stock after buying an additional 181,521 shares during the quarter. PayPal accounts for about 2.8% of Sound Shore Management Inc. CT's portfolio, making the stock its 18th largest holding. Sound Shore Management Inc. CT owned about 0.13% of PayPal worth $80,896,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of PayPal by 15.2% during the 4th quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider's stock valued at $596,000 after purchasing an additional 924 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in shares of PayPal during the 4th quarter valued at approximately $248,000. Proficio Capital Partners LLC bought a new stake in shares of PayPal during the 4th quarter valued at approximately $216,000. LPL Financial LLC grew its holdings in shares of PayPal by 10.3% during the 4th quarter. LPL Financial LLC now owns 1,013,517 shares of the credit services provider's stock valued at $86,910,000 after purchasing an additional 94,903 shares during the last quarter. Finally, Modern Wealth Management LLC bought a new stake in shares of PayPal during the 4th quarter valued at approximately $247,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PYPL shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $88.00 price target on shares of PayPal in a report on Thursday, June 26th. Piper Sandler raised shares of PayPal to a "neutral" rating and set a $74.00 target price on the stock in a report on Tuesday, June 24th. Arete Research set a $81.00 target price on shares of PayPal in a report on Thursday, March 27th. Compass Point started coverage on shares of PayPal in a report on Wednesday, April 23rd. They set a "sell" rating and a $56.00 target price on the stock. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $96.00 target price on shares of PayPal in a report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $83.13.

PayPal Stock Up 1.5%

PYPL traded up $1.16 during trading on Thursday, hitting $77.82. 10,498,771 shares of the company's stock were exchanged, compared to its average volume of 8,774,261. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The business's 50 day moving average is $73.08 and its two-hundred day moving average is $73.00. PayPal Holdings, Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $93.66. The stock has a market cap of $75.68 billion, a P/E ratio of 17.41, a PEG ratio of 1.26 and a beta of 1.45.

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 firm had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. The business's revenue was up 1.2% on a year-over-year basis. As a group, equities analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PayPal 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 transaction of $281,168.36. Following the transaction, the executive vice president owned 16,989 shares in the company, valued at approximately $1,244,274.36. This represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Deborah M. Messemer sold 3,795 shares of the company's 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 owned 13,976 shares in the company, valued at approximately $1,020,248. The trade was a 21.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,796 shares of company stock worth $863,028. Insiders own 0.08% of the company's stock.

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.