Summit Trail Advisors LLC Raises Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Summit Trail Advisors LLC lifted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 27.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,815 shares of the credit services provider's stock after purchasing an additional 4,500 shares during the quarter. Summit Trail Advisors LLC's holdings in PayPal were worth $1,358,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Norges Bank purchased a new position in PayPal during the 4th quarter worth approximately $1,086,508,000. Capital Research Global Investors lifted its stake in PayPal by 108.2% in the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock valued at $1,529,823,000 after buying an additional 9,313,783 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of PayPal by 284.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider's stock worth $666,100,000 after acquiring an additional 5,772,198 shares during the last quarter. FMR LLC grew its holdings in shares of PayPal by 12.9% during the fourth quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock worth $1,615,134,000 after buying an additional 2,161,582 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in PayPal by 124.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,497,415 shares of the credit services provider's stock valued at $228,206,000 after acquiring an additional 1,936,520 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company's stock.

Insider Buying and Selling at PayPal

In related news, Director Deborah M. Messemer sold 3,795 shares of PayPal stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.00, for a total value of $277,035.00. Following the sale, the director directly owned 13,976 shares in the company, valued at $1,020,248. The trade was a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Diego Scotti sold 3,839 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $281,168.36. Following the transaction, the executive vice president directly owned 16,989 shares in the company, valued at $1,244,274.36. This represents a 18.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,796 shares of company stock valued at $863,028. 0.08% of the stock is owned by corporate insiders.

PayPal Stock Performance

PYPL traded up $0.10 during trading on Friday, hitting $76.41. The stock had a trading volume of 5,263,390 shares, compared to its average volume of 10,872,603. The firm has a market capitalization of $74.31 billion, a P/E ratio of 17.09, a PEG ratio of 1.25 and a beta of 1.45. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66. The company's 50-day moving average price is $71.22 and its 200 day moving average price is $74.28.

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

Analysts Set New Price Targets

A number of analysts have issued reports on PYPL shares. Citigroup cut their target price on PayPal from $98.00 to $95.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Truist Financial began coverage on PayPal in a research note on Monday, June 2nd. They issued a "sell" rating and a $68.00 price objective for the company. Bank of America cut their target price 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. Seaport Res Ptn cut PayPal from a "hold" rating to a "strong sell" rating in a research note on Thursday, April 17th. Finally, Robert W. Baird boosted their target price on shares of PayPal from $78.00 to $79.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the company 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.