Victory Capital Management Inc. Purchases 131,291 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Victory Capital Management Inc. increased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 16.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 915,039 shares of the credit services provider's stock after acquiring an additional 131,291 shares during the period. Victory Capital Management Inc. owned approximately 0.09% of PayPal worth $59,706,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PYPL. Brighton Jones LLC increased its holdings in shares of 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 during the last quarter. Revolve Wealth Partners LLC bought a new position in shares of PayPal in the fourth quarter worth $248,000. Proficio Capital Partners LLC bought a new position in shares of PayPal in the fourth quarter worth $216,000. Royal London Asset Management Ltd. grew its stake in shares of PayPal by 1.4% in the fourth quarter. Royal London Asset Management Ltd. now owns 723,944 shares of the credit services provider's stock worth $61,789,000 after purchasing an additional 10,277 shares in the last quarter. Finally, HUB Investment Partners LLC lifted its holdings in shares of PayPal by 74.7% in the fourth quarter. HUB Investment Partners LLC now owns 7,657 shares of the credit services provider's stock valued at $654,000 after buying an additional 3,275 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PYPL shares. Keefe, Bruyette & Woods cut their price objective on PayPal from $104.00 to $85.00 and set an "outperform" rating for the company in a report on Monday, March 31st. Piper Sandler raised PayPal to a "neutral" rating and set a $74.00 price objective for the company in a research note on Tuesday, June 24th. BMO Capital Markets cut their price target on PayPal from $83.00 to $79.00 and set a "market perform" rating for the company in a research note on Wednesday, April 30th. Needham & Company LLC reissued a "hold" rating on shares of PayPal in a research note on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on PayPal in a research note on Thursday. They issued a "hold" rating and a $75.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, PayPal currently has an average rating of "Hold" and an average target price of $83.13.

PayPal Trading Up 0.4%

NASDAQ:PYPL traded up $0.31 on Friday, reaching $74.17. The company's stock had a trading volume of 9,003,130 shares, compared to its average volume of 10,883,670. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $72.13 billion, a PE ratio of 16.59, a PEG ratio of 1.21 and a beta of 1.45. The business's 50-day moving average price is $72.75 and its two-hundred day moving average price is $73.22. 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 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.17. The company 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%. PayPal's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 earnings per share. Equities research analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insider Activity at PayPal

In related news, Director Deborah M. Messemer sold 3,795 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 13,976 shares of the company's stock, valued at approximately $1,020,248. This represents a 21.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Suzan Kereere sold 4,162 shares of the company'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 $304,824.88. Following the completion of the sale, the insider owned 48,483 shares in the company, valued at $3,550,894.92. This represents a 7.91% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,796 shares of company stock valued at $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.