Versant Capital Management Inc raised its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 255.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,368 shares of the credit services provider's stock after acquiring an additional 3,859 shares during the quarter. Versant Capital Management Inc's holdings in PayPal were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PYPL. Brighton Jones LLC increased its position in PayPal by 15.2% in the 4th quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider's stock valued at $596,000 after acquiring an additional 924 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in shares of PayPal by 4.4% in the 4th quarter. Foundations Investment Advisors LLC now owns 4,431 shares of the credit services provider's stock valued at $378,000 after purchasing an additional 188 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in shares of PayPal in the 4th quarter valued at about $248,000. Hantz Financial Services Inc. boosted its stake in shares of PayPal by 19.8% in the 4th quarter. Hantz Financial Services Inc. now owns 41,612 shares of the credit services provider's stock valued at $3,552,000 after purchasing an additional 6,883 shares during the last quarter. Finally, Strategic Blueprint LLC boosted its stake in shares of PayPal by 9.9% in the 4th quarter. Strategic Blueprint LLC now owns 3,590 shares of the credit services provider's stock valued at $306,000 after purchasing an additional 323 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of PayPal in a research note on Tuesday, February 4th. Piper Sandler reduced their target price on shares of PayPal from $76.00 to $70.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Wells Fargo & Company reduced their target price on shares of PayPal from $80.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada reduced their target price on shares of PayPal from $104.00 to $88.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, Evercore ISI initiated coverage on shares of PayPal in a research note on Wednesday, April 9th. They set an "in-line" rating and a $65.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.68.
Check Out Our Latest Report on PYPL
PayPal Stock Performance
Shares of NASDAQ:PYPL traded down $0.89 on Friday, hitting $70.04. The company had a trading volume of 14,934,033 shares, compared to its average volume of 11,197,816. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66. The stock has a market cap of $68.12 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 1.27 and a beta of 1.51. The stock has a 50 day moving average price of $66.32 and a 200 day moving average price of $76.71. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48.
PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.16 by $0.17. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. During the same period in the previous year, the company earned $1.08 earnings per share. The company's quarterly revenue was up 1.2% on a year-over-year basis. Analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.
PayPal Company Profile
(
Free Report)
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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