Spirepoint Private Client LLC Makes New $405,000 Investment in PayPal Holdings, Inc. (NASDAQ:PYPL)

Spirepoint Private Client LLC acquired a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the 1st quarter, Holdings Channel.com reports. The fund acquired 6,210 shares of the credit services provider’s stock, valued at approximately $405,000.

A number of other hedge funds have also recently modified their holdings of the business. J. Goldman & Co LP grew its stake in shares of PayPal by 11.9% in the fourth quarter. J. Goldman & Co LP now owns 261,322 shares of the credit services provider’s stock worth $22,304,000 after acquiring an additional 27,812 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its stake in PayPal by 2.7% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider’s stock worth $59,489,000 after purchasing an additional 18,172 shares in the last quarter. ExodusPoint Capital Management LP boosted its stake in PayPal by 223.1% in the 4th quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider’s stock worth $22,622,000 after purchasing an additional 183,011 shares in the last quarter. StoneX Group Inc. grew its position in PayPal by 70.4% during the 4th quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider’s stock valued at $2,326,000 after purchasing an additional 11,260 shares during the last quarter. Finally, Ring Mountain Capital LLC bought a new stake in PayPal during the 4th quarter valued at about $581,000. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

Shares of PYPL opened at $72.01 on Tuesday. The firm has a market cap of $70.03 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 1.16 and a beta of 1.45. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $69.17 and its two-hundred day moving average is $74.94. PayPal Holdings, Inc. has a 52-week low of $55.85 and a 52-week high of $93.66.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data 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 14.26% and a return on equity of 24.59%. The business had revenue of $7.79 billion for the quarter, compared to analysts’ expectations of $7.84 billion. During the same quarter last year, the company earned $1.08 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Diego Scotti sold 3,839 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $281,168.36. Following the completion of the sale, the executive vice president now directly owns 16,989 shares in the company, valued at approximately $1,244,274.36. This trade 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 PayPal stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.00, for a total transaction of $277,035.00. Following the sale, the director now directly owns 13,976 shares of the company’s stock, valued at $1,020,248. This trade represents a 21.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,796 shares of company stock valued at $863,028 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of recent analyst reports. Evercore ISI initiated coverage on shares of PayPal in a report on Wednesday, April 9th. They set an “in-line” rating and a $65.00 price target on the stock. Arete Research set a $81.00 price objective on PayPal in a research report on Thursday, March 27th. Keefe, Bruyette & Woods reduced their target price on PayPal from $104.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, March 31st. Morgan Stanley boosted their price target on PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Finally, Macquarie dropped their price objective on PayPal from $117.00 to $95.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 29th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $83.29.

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.