HHR Asset Management LLC raised its position in PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) by 19.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 234,661 shares of the credit services provider’s stock after acquiring an additional 38,246 shares during the quarter. PayPal makes up 4.9% of HHR Asset Management LLC’s investment portfolio, making the stock its 3rd largest position. HHR Asset Management LLC’s holdings in PayPal were worth $27,138,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Level Financial Advisors Inc. purchased a new stake in shares of PayPal in the fourth quarter worth $25,000. LFA Lugano Financial Advisors SA purchased a new position in PayPal in the 4th quarter worth about $26,000. Curi Wealth Management LLC purchased a new position in PayPal in the 4th quarter worth about $30,000. Disciplined Investments LLC increased its position in PayPal by 203.6% during the 4th quarter. Disciplined Investments LLC now owns 170 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 114 shares during the period. Finally, Blue Bell Private Wealth Management LLC bought a new stake in shares of PayPal in the 4th quarter valued at about $36,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:PYPL opened at $72.97 on Thursday. The company has a market cap of $84.50 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 1.55 and a beta of 1.40. The firm’s 50-day moving average is $83.65 and its 200-day moving average is $122.52. PayPal Holdings, Inc. has a 52-week low of $70.47 and a 52-week high of $310.16. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.19 and a current ratio of 1.19.
Several analysts have commented on PYPL shares. Bank of America cut shares of PayPal from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $175.00 to $107.00 in a research note on Wednesday, March 9th. DA Davidson lowered their price target on shares of PayPal from $166.00 to $144.00 in a research report on Tuesday, April 26th. Cowen decreased their price target on PayPal from $174.00 to $104.00 in a research note on Thursday, April 28th. Truist Financial decreased their target price on PayPal from $115.00 to $85.00 in a research note on Thursday, April 28th. Finally, BMO Capital Markets reduced their price objective on PayPal from $183.00 to $114.00 in a report on Thursday, April 28th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirty have given a buy rating to the stock. Based on data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and a consensus target price of $153.71.
In related news, EVP Peggy Alford sold 14,767 shares of PayPal stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $85.32, for a total transaction of $1,259,920.44. Following the sale, the executive vice president now directly owns 39,891 shares of the company’s stock, valued at approximately $3,403,500.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Enrique Lores purchased 1,100 shares of the company’s stock in a transaction dated Wednesday, May 4th. The stock was purchased at an average price of $88.13 per share, for a total transaction of $96,943.00. Following the transaction, the director now directly owns 5,235 shares in the company, valued at approximately $461,360.55. The disclosure for this purchase can be found here. Company insiders own 0.13% of the company’s stock.
PayPal Profile (Get Rating)
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company's payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 100 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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