WBI Investments LLC Makes New Investment in PayPal Holdings, Inc. (NASDAQ:PYPL)

WBI Investments LLC acquired a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) in the 4th quarter, HoldingsChannel reports. The fund acquired 25,331 shares of the credit services provider’s stock, valued at approximately $2,162,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PYPL. J. Goldman & Co LP lifted its position in PayPal by 11.9% during the fourth quarter. J. Goldman & Co LP now owns 261,322 shares of the credit services provider’s stock worth $22,304,000 after acquiring an additional 27,812 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in PayPal by 2.7% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider’s stock worth $59,489,000 after purchasing an additional 18,172 shares during the last quarter. ExodusPoint Capital Management LP lifted its holdings in PayPal by 223.1% during the 4th quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider’s stock worth $22,622,000 after purchasing an additional 183,011 shares during the last quarter. StoneX Group Inc. boosted its stake in PayPal by 70.4% in the 4th quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider’s stock valued at $2,326,000 after purchasing an additional 11,260 shares during the period. Finally, Ring Mountain Capital LLC acquired a new position in PayPal in the 4th quarter valued at $581,000. 68.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PYPL. Monness Crespi & Hardt dropped their target price on PayPal from $120.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Keefe, Bruyette & Woods cut their price objective on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, March 31st. Seaport Res Ptn cut PayPal from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 17th. Royal Bank of Canada reduced their price target on PayPal from $104.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Finally, StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.68.

Insider Buying and Selling

In other news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now directly owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. This represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by company insiders.

PayPal Stock Up 0.9%

Shares of NASDAQ:PYPL opened at $72.18 on Monday. The firm has a fifty day moving average price of $65.99 and a two-hundred day moving average price of $77.38. The company has a market cap of $70.20 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 1.27 and a beta of 1.51. 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 one year low of $55.85 and a one year high of $93.66.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.17. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.84 billion. During the same quarter last year, the company earned $1.08 earnings per share. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. Analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

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.