PayPal Holdings, Inc. (NASDAQ:PYPL) Stake Increased by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. boosted its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.0% during the 1st quarter, HoldingsChannel reports. The fund owned 29,982 shares of the credit services provider’s stock after buying an additional 2,962 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in PayPal were worth $1,956,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PYPL. Geode Capital Management LLC increased its position in shares of PayPal by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider’s stock worth $1,849,884,000 after purchasing an additional 271,836 shares during the last quarter. FMR LLC grew its stake in PayPal by 12.9% in the fourth quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock worth $1,615,134,000 after purchasing an additional 2,161,582 shares in the last quarter. Capital Research Global Investors grew its stake in PayPal by 108.2% in the fourth quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock worth $1,529,823,000 after purchasing an additional 9,313,783 shares in the last quarter. Norges Bank bought a new stake in PayPal in the fourth quarter valued at about $1,086,508,000. Finally, Northern Trust Corp raised its stake in PayPal by 19.0% during the fourth quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider’s stock valued at $892,953,000 after buying an additional 1,669,908 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PYPL. Robert W. Baird lifted their target price on PayPal from $78.00 to $79.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Citigroup reduced their price objective on PayPal from $98.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Royal Bank Of Canada reiterated an “outperform” rating and set a $88.00 target price on shares of PayPal in a research note on Thursday, June 26th. Bank of America reduced their price target on shares of PayPal from $103.00 to $93.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Piper Sandler raised shares of PayPal to a “neutral” rating and set a $74.00 price objective for the company in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, PayPal currently has an average rating of “Hold” and an average target price of $83.42.

PayPal Stock Performance

PayPal stock opened at $76.41 on Friday. PayPal Holdings, Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $93.66. The firm’s 50 day simple moving average is $71.22 and its 200-day simple moving average is $74.28. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market cap of $74.31 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 1.25 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.17. The firm had revenue of $7.79 billion for the quarter, compared to analysts’ expectations of $7.84 billion. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.08 EPS. As a group, equities research analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insider Activity at PayPal

In other PayPal news, insider Suzan Kereere sold 4,162 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $304,824.88. Following the completion of the sale, the insider directly owned 48,483 shares in the company, valued at approximately $3,550,894.92. This trade represents a 7.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Diego Scotti sold 3,839 shares of PayPal stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $281,168.36. Following the transaction, the executive vice president directly owned 16,989 shares in the company, valued at approximately $1,244,274.36. This trade represents a 18.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,796 shares of company stock valued at $863,028. Company insiders own 0.08% of the company’s stock.

PayPal Company 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.