Rezny Wealth Management Inc. raised its stake in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 17.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,534 shares of the credit services provider’s stock after purchasing an additional 3,294 shares during the period. PayPal accounts for about 0.4% of Rezny Wealth Management Inc.’s holdings, making the stock its 29th biggest position. Rezny Wealth Management Inc.’s holdings in PayPal were worth $1,675,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of PYPL. Evermay Wealth Management LLC grew its position in shares of PayPal by 726.0% during the first quarter. Evermay Wealth Management LLC now owns 413 shares of the credit services provider’s stock worth $27,000 after acquiring an additional 363 shares during the last quarter. Garde Capital Inc. purchased a new position in shares of PayPal during the first quarter worth approximately $28,000. Tsfg LLC grew its position in shares of PayPal by 81.6% during the first quarter. Tsfg LLC now owns 445 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 200 shares during the last quarter. Gordian Capital Singapore Pte Ltd grew its position in shares of PayPal by 41.2% during the first quarter. Gordian Capital Singapore Pte Ltd now owns 473 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 138 shares during the last quarter. Finally, Crewe Advisors LLC grew its position in shares of PayPal by 1,461.8% during the first quarter. Crewe Advisors LLC now owns 531 shares of the credit services provider’s stock worth $35,000 after acquiring an additional 497 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.
PayPal Price Performance
PayPal stock opened at $67.30 on Friday. PayPal Holdings, Inc. has a one year low of $55.85 and a one year 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 business has a fifty day moving average of $69.51 and a two-hundred day moving average of $69.32. The company has a market cap of $64.30 billion, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 1.03 and a beta of 1.43.
Analysts Set New Price Targets
PYPL has been the topic of a number of research reports. Piper Sandler set a $74.00 target price on shares of PayPal in a research report on Tuesday, July 29th. Rothschild & Co Redburn increased their price target on PayPal from $66.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, September 16th. Barclays reaffirmed an “overweight” rating on shares of PayPal in a report on Tuesday, July 29th. Citigroup reaffirmed a “buy” rating on shares of PayPal in a report on Tuesday, July 29th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $88.00 price target on shares of PayPal in a report on Thursday, June 26th. Seventeen analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $84.50.
View Our Latest Research Report on PayPal
Insider Activity
In other news, CAO Chris Natali sold 7,102 shares of the firm’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Diego Scotti sold 3,838 shares of PayPal 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 sale, the executive vice president owned 16,989 shares of the company’s stock, valued at approximately $1,174,279.68. This represents a 18.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,102 shares of company stock worth $1,046,607 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.
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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