6,625 Shares in PayPal Holdings, Inc. (NASDAQ:PYPL) Acquired by Wright Investors Service Inc.

Wright Investors Service Inc. bought a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,625 shares of the credit services provider’s stock, valued at approximately $407,000.

Several other hedge funds have also modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt lifted its position in PayPal by 3.1% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,280 shares of the credit services provider’s stock valued at $2,228,000 after buying an additional 1,094 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of PayPal by 78.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 300,259 shares of the credit services provider’s stock worth $18,438,000 after buying an additional 131,872 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of PayPal by 5.0% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 26,855 shares of the credit services provider’s stock worth $1,661,000 after buying an additional 1,273 shares during the last quarter. Alpha Omega Wealth Management LLC increased its stake in shares of PayPal by 5.9% in the fourth quarter. Alpha Omega Wealth Management LLC now owns 21,837 shares of the credit services provider’s stock worth $1,341,000 after buying an additional 1,217 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new stake in shares of PayPal in the fourth quarter worth $667,000. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Stock Down 1.8 %

PYPL opened at $62.10 on Friday. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $76.54. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $65.37 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 1.44 and a beta of 1.45. The business has a 50 day moving average of $62.27 and a 200-day moving average of $59.90.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.12. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The company had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the prior year, the business earned $1.01 earnings per share. PayPal’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that PayPal Holdings, Inc. will post 3.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several recent research reports. DZ Bank lowered shares of PayPal from a “buy” rating to a “hold” rating and set a $60.00 target price for the company. in a research note on Friday, February 9th. Wells Fargo & Company boosted their price target on shares of PayPal from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Wedbush reissued an “outperform” rating and set a $85.00 price target on shares of PayPal in a report on Thursday, February 8th. Mizuho reduced their price objective on shares of PayPal from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, February 8th. Finally, UBS Group upped their price objective on shares of PayPal from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, PayPal has a consensus rating of “Hold” and a consensus price target of $70.47.

Insider Activity at PayPal

In related news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

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.