Maxi Investments CY Ltd Buys 102,275 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Maxi Investments CY Ltd raised its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 521.1% in the first quarter, Holdings Channel reports. The fund owned 121,900 shares of the credit services provider’s stock after acquiring an additional 102,275 shares during the period. PayPal comprises approximately 1.6% of Maxi Investments CY Ltd’s holdings, making the stock its 18th biggest position. Maxi Investments CY Ltd’s holdings in PayPal were worth $7,954,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC raised its holdings in shares of PayPal by 15.2% in the fourth quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider’s stock valued at $596,000 after buying an additional 924 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in shares of PayPal in the fourth quarter valued at about $248,000. Envestnet Asset Management Inc. raised its holdings in shares of PayPal by 14.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,485,198 shares of the credit services provider’s stock valued at $126,762,000 after buying an additional 189,174 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of PayPal by 1.1% in the fourth quarter. Russell Investments Group Ltd. now owns 495,270 shares of the credit services provider’s stock valued at $42,278,000 after buying an additional 5,596 shares during the last quarter. Finally, Waterloo Capital L.P. bought a new position in shares of PayPal in the fourth quarter valued at about $384,000. 68.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on PYPL shares. Citigroup reaffirmed a “buy” rating on shares of PayPal in a research note on Tuesday, July 29th. Wall Street Zen raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Saturday. Royal Bank Of Canada reissued an “outperform” rating and set a $88.00 price target on shares of PayPal in a research note on Thursday, June 26th. Barclays reissued an “overweight” rating on shares of PayPal in a research note on Tuesday, July 29th. Finally, Wells Fargo & Company dropped their price target on shares of PayPal from $80.00 to $74.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.57.

Insider Buying and Selling at PayPal

In other news, Director Deborah M. Messemer sold 3,795 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the transaction, the director directly owned 13,976 shares of the company’s stock, valued at $1,020,248. This trade represents a 21.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Chris Natali sold 7,102 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $69.35, for a total transaction of $492,523.70. The disclosure for this sale can be found here. Insiders sold 22,736 shares of company stock valued at $1,620,835 over the last quarter. Insiders own 0.08% of the company’s stock.

PayPal Price Performance

NASDAQ PYPL opened at $68.01 on Tuesday. The business has a 50 day simple moving average of $73.10 and a 200 day simple moving average of $72.01. PayPal Holdings, Inc. has a 52-week low of $55.85 and a 52-week high of $93.66. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market cap of $64.98 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.03 and a beta of 1.42.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.10. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.08 billion. PayPal had a return on equity of 25.35% and a net margin of 14.49%. During the same period in the prior year, the business earned $1.19 EPS. Analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

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.