Institute for Wealth Management LLC. Acquires 1,722 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Institute for Wealth Management LLC. increased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,330 shares of the credit services provider’s stock after acquiring an additional 1,722 shares during the period. Institute for Wealth Management LLC.’s holdings in PayPal were worth $2,354,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PYPL. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in PayPal in the fourth quarter valued at approximately $25,000. Sutton Wealth Advisors Inc. lifted its stake in PayPal by 115.0% in the third quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 237 shares during the last quarter. PCA Investment Advisory Services Inc. purchased a new position in PayPal in the second quarter valued at approximately $27,000. Resurgent Financial Advisors LLC purchased a new position in PayPal in the fourth quarter valued at approximately $29,000. Finally, BluePath Capital Management LLC purchased a new position in PayPal in the third quarter valued at approximately $33,000. 68.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Sanford C. Bernstein upped their price objective on PayPal from $66.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday. Evercore ISI increased their target price on PayPal from $56.00 to $60.00 and gave the stock an “in-line” rating in a research report on Tuesday, March 26th. StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Canaccord Genuity Group dropped their target price on PayPal from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Finally, Morgan Stanley restated an “equal weight” rating and set a $66.00 target price (down previously from $118.00) on shares of PayPal in a research report on Tuesday, January 9th. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $70.47.

Insiders Place Their Bets

In other PayPal 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 value of $466,079.04. Following the completion of the sale, the senior vice president now owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by insiders.

PayPal Stock Down 0.2 %

Shares of PYPL stock traded down $0.11 during trading hours on Friday, hitting $61.99. 8,736,839 shares of the company’s stock traded hands, compared to its average volume of 16,516,984. The stock’s fifty day simple moving average is $62.27 and its two-hundred day simple moving average is $59.90. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $76.54. The stock has a market cap of $65.25 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 1.44 and a beta of 1.45. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46.

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