Resonant Capital Advisors LLC raised its position in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 38.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,029 shares of the credit services provider’s stock after purchasing an additional 12,049 shares during the quarter. Resonant Capital Advisors LLC’s holdings in PayPal were worth $3,198,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of PayPal by 0.3% in the first quarter. Vanguard Group Inc. now owns 86,221,849 shares of the credit services provider’s stock valued at $5,625,976,000 after buying an additional 276,339 shares in the last quarter. Deutsche Bank AG boosted its holdings in PayPal by 19.1% during the 1st quarter. Deutsche Bank AG now owns 11,238,218 shares of the credit services provider’s stock valued at $733,294,000 after acquiring an additional 1,798,330 shares during the period. Invesco Ltd. grew its position in PayPal by 14.9% in the 1st quarter. Invesco Ltd. now owns 9,516,070 shares of the credit services provider’s stock valued at $620,924,000 after acquiring an additional 1,232,155 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in PayPal by 44.6% during the first quarter. Goldman Sachs Group Inc. now owns 8,559,376 shares of the credit services provider’s stock worth $558,499,000 after purchasing an additional 2,638,815 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of PayPal during the first quarter worth about $529,264,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.
PayPal Price Performance
PayPal stock opened at $69.77 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $68.94 and a 200-day simple moving average of $69.83. The stock has a market cap of $66.66 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 1.08 and a beta of 1.44. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66.
Wall Street Analyst Weigh In
PYPL has been the subject of several recent research reports. Citigroup raised shares of PayPal to a “hold” rating in a research note on Thursday. JMP Securities reduced their target price on shares of PayPal from $110.00 to $100.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 30th. Truist Financial set a $65.00 price target on shares of PayPal in a research note on Friday. Morgan Stanley reaffirmed a “positive” rating on shares of PayPal in a research report on Wednesday, July 30th. Finally, Barclays reiterated an “overweight” rating on shares of PayPal in a research note on Tuesday, July 29th. Fifteen investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $82.46.
View Our Latest Stock Report on PYPL
Insider Transactions at PayPal
In other news, CAO Chris Natali sold 7,102 shares of the firm’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $69.35, for a total transaction of $492,523.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Suzan Kereere sold 4,162 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $69.39, for a total value of $288,801.18. Following the completion of the transaction, the insider directly owned 48,483 shares of the company’s stock, valued at $3,364,235.37. This trade represents a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,102 shares of company stock valued at $1,046,607. Corporate insiders own 0.08% of the company’s stock.
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.
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