Sheets Smith Wealth Management boosted its stake in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,026 shares of the credit services provider’s stock after buying an additional 188 shares during the quarter. Sheets Smith Wealth Management’s holdings in PayPal were worth $534,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Bryn Mawr Capital Management LLC grew its position in PayPal by 1.2% in the first quarter. Bryn Mawr Capital Management LLC now owns 11,072 shares of the credit services provider’s stock worth $841,000 after acquiring an additional 135 shares in the last quarter. Vestcor Inc raised its holdings in PayPal by 0.5% during the fourth quarter. Vestcor Inc now owns 26,063 shares of the credit services provider’s stock valued at $1,856,000 after buying an additional 140 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its position in shares of PayPal by 1.0% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 15,056 shares of the credit services provider’s stock worth $1,072,000 after buying an additional 143 shares during the last quarter. West Oak Capital LLC boosted its stake in shares of PayPal by 26.1% during the 1st quarter. West Oak Capital LLC now owns 700 shares of the credit services provider’s stock worth $53,000 after acquiring an additional 145 shares in the last quarter. Finally, Private Asset Management Inc. increased its holdings in shares of PayPal by 5.2% during the 1st quarter. Private Asset Management Inc. now owns 3,027 shares of the credit services provider’s stock valued at $230,000 after acquiring an additional 150 shares during the last quarter. 68.42% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
PYPL has been the topic of a number of recent analyst reports. Atlantic Securities lowered shares of PayPal from an “overweight” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research report on Tuesday, June 13th. Credit Suisse Group reissued a “neutral” rating and issued a $80.00 price objective on shares of PayPal in a research report on Monday, July 24th. Wedbush reaffirmed an “outperform” rating and set a $85.00 target price on shares of PayPal in a research report on Thursday, August 3rd. StockNews.com initiated coverage on shares of PayPal in a report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Sanford C. Bernstein cut their price objective on shares of PayPal from $85.00 to $70.00 in a research report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.03.
PayPal Stock Up 0.4 %
Shares of NASDAQ:PYPL traded up $0.22 during mid-day trading on Wednesday, reaching $63.03. 3,694,284 shares of the stock were exchanged, compared to its average volume of 15,260,229. The company has a market cap of $69.21 billion, a P/E ratio of 17.54, a P/E/G ratio of 0.93 and a beta of 1.34. The stock’s 50 day simple moving average is $66.24 and its 200-day simple moving average is $68.55. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.54. PayPal Holdings, Inc. has a one year low of $57.29 and a one year high of $98.98.
PayPal (NASDAQ:PYPL – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The credit services provider reported $1.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.16. The company had revenue of $7.29 billion for the quarter, compared to the consensus estimate of $7.27 billion. PayPal had a net margin of 14.27% and a return on equity of 20.31%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $0.65 earnings per share. As a group, equities research analysts predict that PayPal Holdings, Inc. will post 3.81 EPS for the current year.
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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