Everhart Financial Group Inc. Raises Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Everhart Financial Group Inc. lifted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 22.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,633 shares of the credit services provider’s stock after acquiring an additional 1,014 shares during the quarter. Everhart Financial Group Inc.’s holdings in PayPal were worth $368,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PYPL. Norges Bank purchased a new stake in PayPal in the fourth quarter worth $1,086,508,000. Capital Research Global Investors grew its position in shares of PayPal by 108.2% in the fourth quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock valued at $1,529,823,000 after purchasing an additional 9,313,783 shares in the last quarter. Artisan Partners Limited Partnership grew its position in shares of PayPal by 284.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock valued at $666,100,000 after purchasing an additional 5,772,198 shares in the last quarter. FMR LLC grew its position in shares of PayPal by 12.9% in the fourth quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock valued at $1,615,134,000 after purchasing an additional 2,161,582 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of PayPal by 124.1% in the first quarter. Assenagon Asset Management S.A. now owns 3,497,415 shares of the credit services provider’s stock valued at $228,206,000 after purchasing an additional 1,936,520 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PayPal

In other news, insider Suzan Kereere sold 4,162 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $304,824.88. Following the completion of the sale, the insider now owns 48,483 shares of the company’s stock, valued at $3,550,894.92. This represents a 7.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Deborah M. Messemer sold 3,795 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the sale, the director now directly owns 13,976 shares of the company’s stock, valued at $1,020,248. This represents a 21.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,796 shares of company stock worth $863,028. 0.08% of the stock is currently owned by insiders.

PayPal Stock Performance

Shares of PYPL stock opened at $70.83 on Friday. The firm has a 50-day moving average of $68.14 and a 200-day moving average of $75.74. The company has a market cap of $68.88 billion, a P/E ratio of 17.66, a P/E/G ratio of 1.27 and a beta of 1.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. PayPal Holdings, Inc. has a one year low of $55.85 and a one year high of $93.66.

PayPal (NASDAQ:PYPL) last issued its 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. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.84 billion. During the same quarter last year, the business earned $1.08 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PYPL shares. Piper Sandler dropped their price objective on PayPal from $76.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Morgan Stanley lifted their price objective on PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Robert W. Baird boosted their price target on PayPal from $78.00 to $79.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Bank of America reduced their target price on PayPal from $103.00 to $93.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Monness Crespi & Hardt reduced their target price on PayPal from $120.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PayPal currently has an average rating of “Hold” and an average price target of $83.29.

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.