Horizon Investments LLC increased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) by 31.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,761 shares of the credit services provider’s stock after purchasing an additional 3,967 shares during the period. Horizon Investments LLC’s holdings in PayPal were worth $1,938,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Addison Advisors LLC raised its stake in PayPal by 100.7% during the 1st quarter. Addison Advisors LLC now owns 279 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 140 shares in the last quarter. Disciplined Investments LLC raised its stake in PayPal by 82.9% during the 1st quarter. Disciplined Investments LLC now owns 311 shares of the credit services provider’s stock valued at $36,000 after acquiring an additional 141 shares in the last quarter. Intelligent Financial Strategies bought a new stake in PayPal during the 4th quarter valued at $37,000. US Asset Management LLC bought a new stake in PayPal during the 1st quarter valued at $38,000. Finally, Paladin Advisory Group LLC raised its stake in PayPal by 66.5% during the 1st quarter. Paladin Advisory Group LLC now owns 328 shares of the credit services provider’s stock valued at $38,000 after acquiring an additional 131 shares in the last quarter. Institutional investors own 70.67% of the company’s stock.
Insider Activity at PayPal
In related news, EVP Peggy Alford sold 21,791 shares of PayPal stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $97.82, for a total transaction of $2,131,595.62. Following the completion of the sale, the executive vice president now owns 18,100 shares of the company’s stock, valued at $1,770,542. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.13% of the company’s stock.
Analyst Ratings Changes
Several brokerages have weighed in on PYPL. Sumitomo Mitsui Financial Group raised PayPal from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $90.00 to $100.00 in a research note on Wednesday, August 3rd. Mizuho dropped their price objective on PayPal from $120.00 to $118.00 and set a “buy” rating on the stock in a research note on Monday, August 8th. BMO Capital Markets boosted their price objective on PayPal from $114.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, August 4th. KeyCorp boosted their price objective on PayPal from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 3rd. Finally, Keefe, Bruyette & Woods dropped their price objective on PayPal from $108.00 to $98.00 in a research note on Monday, July 11th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and thirty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.93.
PayPal Stock Performance
Shares of PYPL stock opened at $96.23 on Friday. The company has a market capitalization of $111.29 billion, a price-to-earnings ratio of 55.30, a P/E/G ratio of 2.06 and a beta of 1.45. PayPal Holdings, Inc. has a 1-year low of $67.58 and a 1-year high of $289.00. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.52. The stock’s fifty day simple moving average is $87.94 and its 200-day simple moving average is $91.17.
PayPal (NASDAQ:PYPL – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The credit services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.11. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.76 billion. PayPal had a return on equity of 16.79% and a net margin of 7.79%. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 2.88 earnings per share for the current fiscal year.
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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