Spirepoint Private Client LLC Takes $405,000 Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Spirepoint Private Client LLC bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,210 shares of the credit services provider's stock, valued at approximately $405,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AssuredPartners Investment Advisors LLC lifted its holdings in shares of PayPal by 25.7% in the 1st quarter. AssuredPartners Investment Advisors LLC now owns 5,031 shares of the credit services provider's stock valued at $328,000 after buying an additional 1,028 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of PayPal by 14.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 435,276 shares of the credit services provider's stock valued at $28,402,000 after purchasing an additional 53,886 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in PayPal by 3.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 108,119 shares of the credit services provider's stock worth $7,055,000 after buying an additional 3,407 shares in the last quarter. Crewe Advisors LLC grew its position in PayPal by 1,461.8% during the first quarter. Crewe Advisors LLC now owns 531 shares of the credit services provider's stock valued at $35,000 after buying an additional 497 shares during the period. Finally, Prairie Wealth Advisors Inc. raised its position in shares of PayPal by 3.2% in the first quarter. Prairie Wealth Advisors Inc. now owns 8,504 shares of the credit services provider's stock worth $555,000 after acquiring an additional 267 shares during the period. Institutional investors and hedge funds own 68.32% of the company's stock.

Analysts Set New Price Targets

PYPL has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a report on Wednesday, April 30th. Bank of America dropped their price target on shares of PayPal from $103.00 to $93.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Evercore ISI assumed coverage on shares of PayPal in a report on Wednesday, April 9th. They issued an "in-line" rating and a $65.00 price target for the company. Citigroup decreased their price objective 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. Finally, Compass Point initiated coverage on shares of PayPal in a research note on Wednesday, April 23rd. They set a "sell" rating and a $56.00 target price for the company. Three investment 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. Based on data from MarketBeat, PayPal presently has an average rating of "Hold" and a consensus price target of $83.42.

PayPal Price Performance

NASDAQ:PYPL traded up $1.57 during trading hours on Tuesday, reaching $73.58. 9,317,513 shares of the company traded hands, compared to its average volume of 11,007,856. 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 firm's 50-day moving average is $69.17 and its 200-day moving average is $74.94. The stock has a market cap of $71.56 billion, a P/E ratio of 16.46, a P/E/G ratio of 1.16 and a beta of 1.45. 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 posted its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.17. The firm had revenue of $7.79 billion during the quarter, compared to analysts' expectations of $7.84 billion. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. Equities research analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insider Activity

In related 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 sale, the executive vice president now directly owns 16,989 shares of the company's stock, valued at approximately $1,244,274.36. This trade represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suzan Kereere sold 4,162 shares of the business'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 sale, the insider now owns 48,483 shares of the company's stock, valued at approximately $3,550,894.92. The trade was a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,796 shares of company stock valued at $863,028 over the last 90 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.