PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Bought by Sheets Smith Wealth Management

Sheets Smith Wealth Management lifted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 110.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 14,119 shares of the credit services provider’s stock after purchasing an additional 7,404 shares during the period. Sheets Smith Wealth Management’s holdings in PayPal were worth $867,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PYPL. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of PayPal in the fourth quarter worth approximately $25,000. Sutton Wealth Advisors Inc. raised its position in PayPal by 115.0% during 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 during the period. BluePath Capital Management LLC purchased a new stake in PayPal in the 3rd quarter worth about $33,000. Beacon Capital Management LLC boosted its position in PayPal by 58.6% during the 4th quarter. Beacon Capital Management LLC now owns 609 shares of the credit services provider’s stock worth $36,000 after acquiring an additional 225 shares during the period. Finally, Criterion Capital Advisors LLC purchased a new position in PayPal during the 4th quarter valued at about $37,000. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Down 0.4 %

NASDAQ PYPL traded down $0.26 during trading hours on Monday, reaching $65.44. 7,757,100 shares of the company’s stock traded hands, compared to its average volume of 16,465,895. The firm has a market cap of $68.45 billion, a PE ratio of 16.48, a PEG ratio of 1.18 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.28. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $76.54. The firm has a 50-day simple moving average of $63.69 and a 200 day simple moving average of $60.56.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). The company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 EPS. Sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PYPL shares. Wells Fargo & Company increased their price target on shares of PayPal from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. DZ Bank cut shares of PayPal from a “buy” rating to a “hold” rating and set a $60.00 price target on the stock. in a report on Friday, February 9th. JMP Securities increased their price objective on PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 1st. Citigroup lowered their target price on PayPal from $76.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Finally, Mizuho boosted their target price on shares of PayPal from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Twenty-five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $72.73.

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is owned by insiders.

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.