Philip James Wealth Mangement LLC lifted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,261 shares of the credit services provider’s stock after acquiring an additional 978 shares during the period. Philip James Wealth Mangement LLC’s holdings in PayPal were worth $2,398,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. increased its position in shares of PayPal by 15.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 5,726,695 shares of the credit services provider’s stock worth $425,608,000 after acquiring an additional 756,058 shares in the last quarter. New Wave Wealth Advisors LLC increased its position in shares of PayPal by 17.0% in the second quarter. New Wave Wealth Advisors LLC now owns 4,360 shares of the credit services provider’s stock worth $324,000 after acquiring an additional 635 shares in the last quarter. Newman Dignan & Sheerar Inc. increased its position in shares of PayPal by 23.2% in the second quarter. Newman Dignan & Sheerar Inc. now owns 6,560 shares of the credit services provider’s stock worth $488,000 after acquiring an additional 1,235 shares in the last quarter. Madrona Financial Services LLC acquired a new stake in shares of PayPal in the second quarter worth $211,000. Finally, SOA Wealth Advisors LLC. boosted its stake in shares of PayPal by 41.3% in the second quarter. SOA Wealth Advisors LLC. now owns 1,348 shares of the credit services provider’s stock valued at $100,000 after purchasing an additional 394 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.
PayPal Trading Down 0.6%
NASDAQ PYPL opened at $66.66 on Thursday. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $63.69 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 1.03 and a beta of 1.44. The company’s fifty day moving average price is $69.03 and its two-hundred day moving average price is $69.31.
Insider Transactions at PayPal
In other news, EVP Diego Scotti sold 3,838 shares of the firm’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $69.12, for a total value of $265,282.56. Following the transaction, the executive vice president directly owned 16,989 shares in the company, valued at approximately $1,174,279.68. This trade represents a 18.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Suzan Kereere sold 4,162 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $69.39, for a total transaction of $288,801.18. Following the completion of the transaction, the insider owned 48,483 shares in the company, valued at approximately $3,364,235.37. The trade was a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,102 shares of company stock worth $1,046,607. 0.08% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several brokerages have recently weighed in on PYPL. Citigroup restated a “buy” rating on shares of PayPal in a research note on Tuesday, July 29th. Barclays restated an “overweight” rating on shares of PayPal in a research note on Tuesday, July 29th. Morgan Stanley restated a “positive” rating on shares of PayPal in a research note on Wednesday, July 30th. Piper Sandler set a $74.00 target price on shares of PayPal in a research note on Tuesday, July 29th. Finally, Wall Street Zen upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Seventeen analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, PayPal currently has an average rating of “Hold” and an average target price of $84.50.
Get Our Latest Analysis on PayPal
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.
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