NewEdge Advisors LLC Has $2.81 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

NewEdge Advisors LLC lifted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,922 shares of the credit services provider’s stock after purchasing an additional 675 shares during the period. NewEdge Advisors LLC’s holdings in PayPal were worth $2,810,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Park Place Capital Corp increased its stake in shares of PayPal by 6.6% in the 4th quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider’s stock valued at $161,000 after acquiring an additional 116 shares in the last quarter. Rosenberg Matthew Hamilton increased its position in PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after buying an additional 125 shares in the last quarter. JFS Wealth Advisors LLC raised its stake in PayPal by 33.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 502 shares of the credit services provider’s stock worth $43,000 after buying an additional 125 shares during the period. Wynn Capital LLC increased its stake in PayPal by 1.1% during the 4th quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider’s stock valued at $983,000 after purchasing an additional 130 shares in the last quarter. Finally, Avalon Trust Co increased its position in PayPal by 7.0% in the fourth quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider’s stock worth $176,000 after buying an additional 135 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Down 1.2 %

Shares of NASDAQ:PYPL opened at $60.28 on Tuesday. The stock has a fifty day simple moving average of $67.90 and a two-hundred day simple moving average of $79.06. The stock has a market capitalization of $59.63 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.27 and a beta of 1.60. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the business earned $1.48 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, research analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on PYPL. DZ Bank upgraded PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Friday, February 28th. Robert W. Baird dropped their target price on PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Evercore ISI initiated coverage on shares of PayPal in a research note on Wednesday, April 9th. They set an “in-line” rating and a $65.00 price target on the stock. Piper Sandler reduced their target price on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, Susquehanna boosted their price target on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and a consensus target price of $86.84.

Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

PayPal 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.