Freestone Grove Partners LP Buys New Shares in PayPal Holdings, Inc. (NASDAQ:PYPL)

Freestone Grove Partners LP purchased a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 10,293 shares of the credit services provider's stock, valued at approximately $879,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group lifted its holdings in PayPal by 12.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 23,458 shares of the credit services provider's stock valued at $2,003,000 after buying an additional 2,588 shares during the period. Triumph Capital Management boosted its position in shares of PayPal by 12.7% in the 4th quarter. Triumph Capital Management now owns 10,595 shares of the credit services provider's stock worth $904,000 after purchasing an additional 1,195 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of PayPal by 25.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 245,648 shares of the credit services provider's stock worth $20,966,000 after purchasing an additional 49,686 shares during the period. AQR Capital Management LLC increased its holdings in PayPal by 79.6% in the fourth quarter. AQR Capital Management LLC now owns 3,025,173 shares of the credit services provider's stock valued at $258,199,000 after purchasing an additional 1,341,004 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in PayPal by 19.0% in the fourth quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider's stock valued at $892,953,000 after buying an additional 1,669,908 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Gail J. Mcgovern sold 2,446 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the transaction, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays cut their price target on shares of PayPal from $110.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Monness Crespi & Hardt lowered their price objective on shares of PayPal from $120.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Macquarie reduced their target price on PayPal from $117.00 to $95.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. DZ Bank upgraded PayPal from a "hold" rating to a "buy" rating and set a $92.00 price target for the company in a report on Friday, February 28th. Finally, Bank of America cut their price objective on PayPal from $103.00 to $93.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $83.77.

PayPal Stock Performance

PYPL stock traded up $1.83 during mid-day trading on Friday, hitting $67.24. The company had a trading volume of 10,076,664 shares, compared to its average volume of 11,259,060. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The stock's fifty day moving average price is $65.75 and its two-hundred day moving average price is $78.10. The firm has a market cap of $65.39 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings data 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. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.84 billion. During the same period in the prior year, the company earned $1.08 earnings per share. PayPal's revenue was up 1.2% compared to the same quarter last year. On average, analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

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.