ProShare Advisors LLC Buys 202,712 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

ProShare Advisors LLC increased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 17.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,372,425 shares of the credit services provider’s stock after acquiring an additional 202,712 shares during the quarter. ProShare Advisors LLC’s holdings in PayPal were worth $117,136,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Rosenberg Matthew Hamilton increased its position in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 125 shares during the period. Hurley Capital LLC bought a new position in PayPal during the fourth quarter worth about $27,000. Bernard Wealth Management Corp. bought a new position in PayPal during the fourth quarter worth about $37,000. Crowley Wealth Management Inc. bought a new position in PayPal during the fourth quarter worth about $39,000. Finally, Bank of Jackson Hole Trust bought a new position in PayPal during the fourth quarter worth about $41,000. 68.32% of the stock is owned by institutional investors.

Insider Activity at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on PYPL. Bank of America reduced their price objective on shares of PayPal from $103.00 to $93.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. UBS Group reduced their price target on shares of PayPal from $88.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 30th. Barclays dropped their price objective on shares of PayPal from $110.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Robert W. Baird raised their price objective on shares of PayPal from $78.00 to $79.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $96.00 price target on shares of PayPal in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.68.

PayPal Price Performance

PYPL opened at $71.57 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $69.60 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 1.27 and a beta of 1.51. The firm’s fifty day moving average price is $65.90 and its two-hundred day moving average price is $77.45. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.17. The company had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 EPS. As a group, analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

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.