UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 2.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,848,019 shares of the credit services provider’s stock after purchasing an additional 213,355 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC’s holdings in PayPal were worth $512,083,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hancock Prospecting Pty Ltd purchased a new stake in PayPal during the 1st quarter worth about $7,178,000. Empowered Funds LLC grew its holdings in PayPal by 20.7% in the 1st quarter. Empowered Funds LLC now owns 169,410 shares of the credit services provider’s stock valued at $11,054,000 after buying an additional 29,096 shares during the period. Logan Capital Management Inc. grew its holdings in PayPal by 34.8% in the 1st quarter. Logan Capital Management Inc. now owns 7,741 shares of the credit services provider’s stock valued at $505,000 after buying an additional 2,000 shares during the period. MBB Public Markets I LLC purchased a new stake in PayPal in the 1st quarter valued at about $294,000. Finally, Faithward Advisors LLC grew its holdings in PayPal by 3.4% in the 1st quarter. Faithward Advisors LLC now owns 5,198 shares of the credit services provider’s stock valued at $339,000 after buying an additional 173 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.
PayPal Trading Down 1.1%
NASDAQ:PYPL opened at $67.68 on Wednesday. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The stock has a market cap of $64.66 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.06 and a beta of 1.43. The business has a fifty day moving average of $71.39 and a 200-day moving average of $69.58. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.33 and a current ratio of 1.33.
Insider Activity at PayPal
In related news, CAO Chris Natali sold 7,102 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $69.35, for a total value of $492,523.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Diego Scotti sold 3,838 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $69.12, for a total value of $265,282.56. Following the completion of the sale, the executive vice president directly owned 16,989 shares of the company’s stock, valued at approximately $1,174,279.68. This represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,102 shares of company stock valued at $1,046,607 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. Macquarie reiterated an “outperform” rating and set a $95.00 target price on shares of PayPal in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft set a $75.00 target price on PayPal in a research report on Tuesday, July 29th. JMP Securities cut their target price on PayPal from $110.00 to $100.00 and set a “market outperform” rating on the stock in a research report on Wednesday, July 30th. Seaport Res Ptn raised PayPal from a “strong sell” rating to a “hold” rating in a research report on Monday, July 14th. Finally, Wall Street Zen raised PayPal from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Seventeen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $85.00.
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.
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