Stonegate Investment Group LLC Raises Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Stonegate Investment Group LLC boosted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 501,456 shares of the credit services provider’s stock after purchasing an additional 18,823 shares during the quarter. Stonegate Investment Group LLC owned about 0.05% of PayPal worth $32,720,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PYPL. Norges Bank purchased a new position in PayPal during the 4th quarter worth $1,086,508,000. Capital Research Global Investors increased its holdings in PayPal by 108.2% during the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock worth $1,529,823,000 after purchasing an additional 9,313,783 shares during the period. Artisan Partners Limited Partnership increased its holdings in shares of PayPal by 284.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock valued at $666,100,000 after acquiring an additional 5,772,198 shares during the period. FMR LLC raised its position in shares of PayPal by 12.9% in the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock worth $1,615,134,000 after acquiring an additional 2,161,582 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of PayPal by 124.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,497,415 shares of the credit services provider’s stock worth $228,206,000 after acquiring an additional 1,936,520 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PayPal

In other news, EVP Diego Scotti sold 3,839 shares of PayPal stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $281,168.36. Following the transaction, the executive vice president now owns 16,989 shares in the company, valued at $1,244,274.36. The trade was a 18.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Deborah M. Messemer sold 3,795 shares of PayPal stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.00, for a total value of $277,035.00. Following the transaction, the director now owns 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 sold a total of 11,796 shares of company stock valued at $863,028 in the last three months. 0.08% of the stock is currently owned by company insiders.

PayPal Trading Up 2.2%

PayPal stock opened at $70.05 on Friday. 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 Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The stock’s 50 day simple moving average is $68.98 and its two-hundred day simple moving average is $75.26. The firm has a market cap of $68.13 billion, a PE ratio of 15.67, a P/E/G ratio of 1.13 and a beta of 1.45.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PYPL shares. BMO Capital Markets dropped their price objective on PayPal from $83.00 to $79.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 30th. Wall Street Zen upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. UBS Group reduced their target price on shares of PayPal from $88.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. Seaport Res Ptn downgraded shares of PayPal from a “hold” rating to a “strong sell” rating in a report on Thursday, April 17th. Finally, Robert W. Baird boosted their target price on shares of PayPal from $78.00 to $79.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PayPal presently has an average rating of “Hold” and a consensus price target of $83.29.

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.