PNC Financial Services Group Inc. Increases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

PNC Financial Services Group Inc. boosted its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.2% during the first quarter, HoldingsChannel reports. The firm owned 352,853 shares of the credit services provider’s stock after buying an additional 871 shares during the period. PNC Financial Services Group Inc.’s holdings in PayPal were worth $23,024,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mpwm Advisory Solutions LLC purchased a new position in shares of PayPal during the fourth quarter worth approximately $25,000. Evermay Wealth Management LLC raised its stake in shares of PayPal by 726.0% during the first quarter. Evermay Wealth Management LLC now owns 413 shares of the credit services provider’s stock worth $27,000 after acquiring an additional 363 shares in the last quarter. Garde Capital Inc. purchased a new position in shares of PayPal in the first quarter worth $28,000. Tsfg LLC increased its stake in shares of PayPal by 81.6% in the first quarter. Tsfg LLC now owns 445 shares of the credit services provider’s stock worth $29,000 after buying an additional 200 shares during the period. Finally, Bernard Wealth Management Corp. purchased a new position in shares of PayPal in the fourth quarter worth $34,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JMP Securities decreased their target price on shares of PayPal from $110.00 to $100.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $88.00 target price on shares of PayPal in a research note on Thursday, June 26th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $96.00 target price on shares of PayPal in a research note on Wednesday, July 30th. Morgan Stanley reiterated a “positive” rating on shares of PayPal in a report on Wednesday, July 30th. Finally, Compass Point assumed coverage on shares of PayPal in a report on Wednesday, April 23rd. They issued a “sell” rating and a $56.00 price target on the stock. Two analysts have rated the stock with a sell rating, fourteen 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.57.

Insider Transactions at PayPal

In other PayPal news, EVP Diego Scotti sold 3,838 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $69.12, for a total transaction of $265,282.56. Following the sale, the executive vice president owned 16,989 shares in the company, valued at $1,174,279.68. This represents a 18.43% decrease in their position. The sale 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 company’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.00, for a total value of $277,035.00. Following the sale, the director owned 13,976 shares in the company, valued at approximately $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 22,736 shares of company stock worth $1,620,835 over the last quarter. 0.08% of the stock is owned by corporate insiders.

PayPal Stock Performance

NASDAQ PYPL opened at $68.01 on Tuesday. The stock’s fifty day moving average is $73.10 and its two-hundred day moving average is $72.01. The firm has a market capitalization of $64.98 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 1.03 and a beta of 1.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.33 and a current ratio of 1.33. PayPal Holdings, Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $93.66.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, July 29th. The credit services provider reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.10. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.08 billion. PayPal had a return on equity of 25.35% and a net margin of 14.49%. During the same quarter in the previous year, the business earned $1.19 earnings per share. On average, research analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

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.