Daiwa Securities Group Inc. raised its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 78.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 300,259 shares of the credit services provider's stock after acquiring an additional 131,872 shares during the quarter. Daiwa Securities Group Inc.'s holdings in PayPal were worth $18,438,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in PYPL. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of PayPal in the 4th quarter worth approximately $25,000. Sutton Wealth Advisors Inc. increased its position in shares of PayPal by 115.0% in the third quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider's stock valued at $26,000 after buying an additional 237 shares in the last quarter. PCA Investment Advisory Services Inc. acquired a new position in shares of PayPal during the 2nd quarter worth $27,000. Resurgent Financial Advisors LLC purchased a new stake in shares of PayPal in the 4th quarter worth about $29,000. Finally, BluePath Capital Management LLC acquired a new stake in PayPal in the 3rd quarter valued at about $33,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have issued reports on PYPL shares. Citigroup reduced their price target on shares of PayPal from $76.00 to $73.00 and set a "buy" rating on the stock in a report on Thursday, February 8th. Stephens reiterated an "equal weight" rating and set a $70.00 target price on shares of PayPal in a report on Thursday, February 8th. Argus cut PayPal from a "buy" rating to a "hold" rating in a report on Friday, February 9th. JMP Securities upped their price objective on PayPal from $68.00 to $70.00 and gave the company a "market outperform" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on PayPal from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, February 8th. Twenty-three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $70.47.
Check Out Our Latest Research Report on PayPal
PayPal Stock Down 1.8 %
PayPal stock traded down $1.16 during midday trading on Thursday, hitting $62.10. 9,217,705 shares of the company were exchanged, compared to its average volume of 16,625,660. The company has a market cap of $65.37 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 1.44 and a beta of 1.45. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $76.54. The company's fifty day moving average price is $62.15 and its 200-day moving average price is $59.89. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29.
PayPal (NASDAQ:PYPL - Get Free Report) last posted its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.12. The business had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 earnings per share. On average, research analysts predict that PayPal Holdings, Inc. will post 3.93 EPS for the current fiscal year.
Insider Buying and Selling at PayPal
In related news, SVP Frank Keller sold 7,686 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the transaction, the senior vice president now owns 23,430 shares of the company's stock, valued at $1,420,795.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.
About PayPal
(
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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