Opal Wealth Advisors LLC Takes $154,000 Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Opal Wealth Advisors LLC acquired a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,353 shares of the credit services provider’s stock, valued at approximately $154,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of PayPal by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider’s stock worth $1,849,884,000 after buying an additional 271,836 shares during the period. FMR LLC grew its stake in shares of PayPal by 12.9% in the 4th 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 during the last quarter. Capital Research Global Investors grew its stake in shares of PayPal by 108.2% in the 4th 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 during the last quarter. Norges Bank purchased a new position in shares of PayPal in the 4th quarter valued at approximately $1,086,508,000. Finally, Northern Trust Corp grew its stake in shares of PayPal by 19.0% in the 4th quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider’s stock valued at $892,953,000 after purchasing an additional 1,669,908 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PYPL has been the topic of several recent research reports. Keefe, Bruyette & Woods dropped their price objective on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, March 31st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $96.00 target price on shares of PayPal in a report on Wednesday, April 30th. Barclays lowered their target price on shares of PayPal from $110.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Bank of America lowered their target price on shares of PayPal from $103.00 to $93.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Morgan Stanley raised their price target on PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, PayPal currently has an average rating of “Hold” and an average price target of $83.29.

Insider Buying and Selling

In related news, EVP Diego Scotti sold 3,839 shares of the company’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $281,168.36. Following the completion of the transaction, the executive vice president now directly owns 16,989 shares in the company, valued at approximately $1,244,274.36. This represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Deborah M. Messemer sold 3,795 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.00, for a total value of $277,035.00. Following the completion of the transaction, the director now owns 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 have sold 11,796 shares of company stock worth $863,028. 0.08% of the stock is owned by insiders.

PayPal Stock Performance

NASDAQ PYPL opened at $70.83 on Friday. PayPal Holdings, Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $93.66. The stock has a market cap of $68.88 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 1.27 and a beta of 1.45. The business has a fifty day moving average of $68.14 and a 200-day moving average of $75.74. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last released 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. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company had revenue of $7.79 billion during the quarter, compared to analysts’ expectations of $7.84 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, analysts predict 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.