Proffitt & Goodson Inc. Buys Shares of 8,196 PayPal Holdings, Inc. (NASDAQ:PYPL)

Proffitt & Goodson Inc. bought a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,196 shares of the credit services provider’s stock, valued at approximately $535,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PYPL. Vickerman Investment Advisors Inc. grew its stake in shares of PayPal by 2.8% in the 1st quarter. Vickerman Investment Advisors Inc. now owns 40,480 shares of the credit services provider’s stock valued at $2,641,000 after buying an additional 1,102 shares in the last quarter. Sharp Financial Services LLC lifted its stake in PayPal by 35.9% in the first quarter. Sharp Financial Services LLC now owns 6,625 shares of the credit services provider’s stock valued at $432,000 after acquiring an additional 1,750 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in PayPal by 10.0% in the first quarter. Concurrent Investment Advisors LLC now owns 32,778 shares of the credit services provider’s stock worth $2,139,000 after acquiring an additional 2,980 shares in the last quarter. Simmons Bank increased its stake in shares of PayPal by 3.7% during the 1st quarter. Simmons Bank now owns 27,533 shares of the credit services provider’s stock worth $1,797,000 after purchasing an additional 985 shares during the last quarter. Finally, World Investment Advisors raised its holdings in shares of PayPal by 67.8% during the 1st quarter. World Investment Advisors now owns 121,471 shares of the credit services provider’s stock valued at $7,926,000 after purchasing an additional 49,072 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $76.41 on Friday. The firm has a market capitalization of $74.31 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.25 and a beta of 1.45. PayPal Holdings, Inc. has a one year low of $55.85 and a one year high of $93.66. The business has a fifty day simple moving average of $71.45 and a 200 day simple moving average of $74.10. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.17. The firm had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 EPS. Sell-side analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Analyst Upgrades and Downgrades

PYPL has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Wednesday, April 30th. Robert W. Baird boosted their price target on PayPal from $78.00 to $79.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $96.00 price target on shares of PayPal in a research report on Wednesday, April 30th. Evercore ISI initiated coverage on PayPal in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $65.00 price target for the company. Finally, Bank of America reduced their price target on PayPal from $103.00 to $93.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $83.42.

Insider Activity at PayPal

In other news, EVP Diego Scotti sold 3,839 shares of the stock in a transaction that occurred 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 directly owned 16,989 shares of the company’s stock, valued at approximately $1,244,274.36. This represents a 18.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Deborah M. Messemer sold 3,795 shares of the business’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 sale, the director directly owned 13,976 shares in the company, valued at approximately $1,020,248. This 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. 0.08% of the stock is owned by company insiders.

PayPal Company 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.