PayPal (NASDAQ:PYPL) Trading 1.5% Higher - Here's What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report)'s share price traded up 1.5% during mid-day trading on Thursday . The stock traded as high as $75.80 and last traded at $75.95. 2,036,269 shares changed hands during trading, a decline of 81% from the average session volume of 10,800,113 shares. The stock had previously closed at $74.83.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wells Fargo & Company dropped their target price on shares of PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. BMO Capital Markets reduced their target price on PayPal from $83.00 to $79.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Truist Financial began coverage on PayPal in a research note on Monday, June 2nd. They issued a "sell" rating and a $68.00 target price on the stock. Royal Bank Of Canada reissued an "outperform" rating and issued a $88.00 target price on shares of PayPal in a research note on Thursday, June 26th. Finally, Citigroup reduced their target price on PayPal from $98.00 to $95.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, PayPal has a consensus rating of "Hold" and a consensus price target of $83.42.

PayPal Price Performance

The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm's 50-day moving average is $72.23 and its 200-day moving average is $73.87. The company has a market cap of $73.62 billion, a PE ratio of 16.94, a PEG ratio of 1.22 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.17. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The company had revenue of $7.79 billion for the quarter, compared to analysts' expectations of $7.84 billion. During the same quarter in the previous year, the company earned $1.08 earnings per share. PayPal's quarterly revenue was up 1.2% on a year-over-year basis. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Diego Scotti sold 3,839 shares of PayPal stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $281,168.36. Following the completion of the transaction, the executive vice president directly owned 16,989 shares in the company, valued at approximately $1,244,274.36. This trade represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Deborah M. Messemer sold 3,795 shares of PayPal stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.00, for a total transaction of $277,035.00. Following the transaction, the director owned 13,976 shares of the company's stock, valued at $1,020,248. The trade was a 21.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,796 shares of company stock worth $863,028. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PayPal

Large investors have recently made changes to their positions in the business. J. Goldman & Co LP boosted its stake in PayPal by 11.9% in the 4th quarter. J. Goldman & Co LP now owns 261,322 shares of the credit services provider's stock worth $22,304,000 after purchasing an additional 27,812 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its position in shares of PayPal by 2.7% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider's stock valued at $59,489,000 after buying an additional 18,172 shares in the last quarter. ExodusPoint Capital Management LP lifted its position in shares of PayPal by 223.1% during the 4th quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider's stock valued at $22,622,000 after buying an additional 183,011 shares in the last quarter. StoneX Group Inc. lifted its position in shares of PayPal by 70.4% during the 4th quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider's stock valued at $2,326,000 after buying an additional 11,260 shares in the last quarter. Finally, Proffitt & Goodson Inc. purchased a new position in shares of PayPal during the 1st quarter valued at about $535,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

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.