Simplicity Wealth LLC Purchases Shares of 3,915 PayPal Holdings, Inc. (NASDAQ:PYPL)

Simplicity Wealth LLC purchased a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,915 shares of the credit services provider’s stock, valued at approximately $240,000.

A number of other institutional investors have also made changes to their positions in PYPL. Moneta Group Investment Advisors LLC lifted its position in shares of PayPal by 110,462.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock worth $1,220,431,000 after purchasing an additional 17,120,572 shares in the last quarter. Norges Bank bought a new stake in shares of PayPal in the fourth quarter worth $1,022,333,000. Clearbridge Investments LLC lifted its position in shares of PayPal by 122.0% in the first quarter. Clearbridge Investments LLC now owns 6,230,481 shares of the credit services provider’s stock worth $720,555,000 after purchasing an additional 3,424,122 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of PayPal by 36.2% in the second quarter. Nuveen Asset Management LLC now owns 10,771,095 shares of the credit services provider’s stock worth $718,755,000 after purchasing an additional 2,862,766 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of PayPal by 420.6% in the third quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock worth $190,371,000 after purchasing an additional 2,616,774 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

Shares of PYPL traded down $1.21 during mid-day trading on Friday, reaching $64.59. The company had a trading volume of 9,933,991 shares, compared to its average volume of 10,310,660. The company’s 50 day simple moving average is $62.12 and its 200 day simple moving average is $59.77. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $77.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $67.99 billion, a price-to-earnings ratio of 16.82, a P/E/G ratio of 1.47 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same period last year, the company posted $1.01 EPS. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts expect that PayPal Holdings, Inc. will post 3.93 EPS for the current year.

Insider Buying and Selling

In related news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the sale, the senior vice president now directly owns 23,430 shares in the company, valued at approximately $1,420,795.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PYPL has been the topic of several analyst reports. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Susquehanna upped their price target on shares of PayPal from $61.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. UBS Group upped their price target on shares of PayPal from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Citigroup dropped their price target on shares of PayPal from $76.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $74.00 price objective on shares of PayPal in a report on Thursday, March 21st. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $70.47.

PayPal 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.