Modern Wealth Management LLC Invests $247,000 in PayPal Holdings, Inc. (NASDAQ:PYPL)

Modern Wealth Management LLC bought a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,161 shares of the credit services provider’s stock, valued at approximately $247,000.

Other institutional investors have also bought and sold shares of the company. Relyea Zuckerberg Hanson LLC grew its stake in shares of PayPal by 113.8% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock worth $638,000 after acquiring an additional 3,976 shares in the last quarter. World Investment Advisors LLC bought a new stake in PayPal in the 3rd quarter worth about $387,435,000. Nikko Asset Management Americas Inc. increased its stake in PayPal by 2.7% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider’s stock valued at $59,489,000 after buying an additional 18,172 shares during the last quarter. Fortem Financial Group LLC lifted its position in shares of PayPal by 28.0% during the 4th quarter. Fortem Financial Group LLC now owns 33,302 shares of the credit services provider’s stock worth $2,842,000 after buying an additional 7,291 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of PayPal by 120.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,555,240 shares of the credit services provider’s stock worth $125,461,000 after buying an additional 849,311 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Piper Sandler dropped their price target on PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of PayPal in a report on Tuesday, February 4th. Barclays raised their price objective on shares of PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. DZ Bank raised shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research report on Friday, February 28th. Finally, Morgan Stanley lifted their price target on shares of PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Fifteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.03.

Insider Activity

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

PayPal Trading Down 5.4 %

Shares of PYPL opened at $65.15 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66. The company has a market capitalization of $64.45 billion, a P/E ratio of 16.25, a P/E/G ratio of 1.27 and a beta of 1.52. The firm’s 50 day simple moving average is $76.28 and its 200 day simple moving average is $80.73.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company 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 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

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.