Wesbanco Bank Inc. Purchases 51,929 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Wesbanco Bank Inc. grew its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 39.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 183,436 shares of the credit services provider's stock after acquiring an additional 51,929 shares during the quarter. Wesbanco Bank Inc.'s holdings in PayPal were worth $12,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in PayPal during the fourth quarter worth approximately $25,000. Sutton Wealth Advisors Inc. lifted its position in PayPal by 115.0% in the third quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider's stock worth $26,000 after buying an additional 237 shares during the last quarter. American National Bank purchased a new position in PayPal during the first quarter worth $27,000. Private Wealth Management Group LLC purchased a new position in shares of PayPal during the 4th quarter worth about $29,000. Finally, Register Financial Advisors LLC bought a new position in PayPal during the 1st quarter valued at about $30,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on PYPL shares. UBS Group boosted their target price on PayPal from $63.00 to $71.00 and gave the company a "neutral" rating in a research report on Wednesday. Stephens boosted their price objective on PayPal from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday. Sanford C. Bernstein increased their target price on PayPal from $66.00 to $68.00 and gave the stock a "market perform" rating in a research note on Thursday, April 18th. BMO Capital Markets upped their price target on shares of PayPal from $64.00 to $65.00 and gave the stock a "market perform" rating in a research report on Wednesday. Finally, Citigroup reduced their target price on PayPal from $76.00 to $73.00 and set a "buy" rating on the stock in a research report on Thursday, February 8th. Twenty-five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $72.73.

Insider Buying and Selling

In other news, SVP Frank Keller sold 7,686 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the transaction, the senior vice president now owns 23,430 shares of the company's stock, valued at $1,420,795.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.14% of the company's stock.

PayPal Stock Performance

Shares of NASDAQ PYPL traded up $0.84 during trading hours on Thursday, reaching $66.98. The stock had a trading volume of 12,478,164 shares, compared to its average volume of 16,583,189. The firm has a 50-day moving average of $63.56 and a 200-day moving average of $60.44. The firm has a market cap of $70.51 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 1.26 and a beta of 1.41. The company has a current ratio of 1.28, a quick ratio of 1.29 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $76.54.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts' consensus estimates of $1.22 by ($0.14). The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. Equities research analysts predict that PayPal Holdings, Inc. will post 4.02 earnings per share for the current year.

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.

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