Western Wealth Management LLC Buys 7,547 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Western Wealth Management LLC grew its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 84.0% during the fourth quarter, Holdings Channel reports. The firm owned 16,530 shares of the credit services provider’s stock after purchasing an additional 7,547 shares during the period. Western Wealth Management LLC’s holdings in PayPal were worth $1,015,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC lifted its holdings in PayPal by 110,462.4% during 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 acquiring an additional 17,120,572 shares during the period. Norges Bank bought a new stake in PayPal during the fourth quarter worth $1,022,333,000. Clearbridge Investments LLC raised its stake 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 valued at $720,555,000 after buying an additional 3,424,122 shares during the period. Nuveen Asset Management LLC raised its stake 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 valued at $718,755,000 after buying an additional 2,862,766 shares during the period. Finally, Nordea Investment Management AB raised its stake 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 valued at $190,371,000 after buying an additional 2,616,774 shares during the period. Institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

PYPL has been the topic of several research reports. DZ Bank lowered PayPal from a “buy” rating to a “hold” rating and set a $60.00 target price on the stock. in a research note on Friday, February 9th. Wells Fargo & Company boosted their target price on PayPal from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Sanford C. Bernstein lifted their price target on PayPal from $66.00 to $68.00 and gave the company a “market perform” rating in a research report on Thursday. Daiwa Capital Markets cut PayPal from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $64.00 to $62.00 in a research report on Tuesday, February 13th. Finally, Wedbush reiterated an “outperform” rating and issued a $85.00 price target on shares of PayPal in a research report on Thursday, February 8th. Twenty-three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $70.47.

Insider Activity at PayPal

In related news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of the transaction, 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 filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by corporate insiders.

PayPal Stock Performance

PayPal stock opened at $62.31 on Friday. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $76.54. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $65.59 billion, a P/E ratio of 16.23, a PEG ratio of 1.41 and a beta of 1.45. The stock’s 50 day moving average is $62.34 and its 200 day moving average is $59.93.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data 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 return on equity of 20.84% and a net margin of 14.26%. The company had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the company earned $1.01 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts predict that PayPal Holdings, Inc. will post 3.93 earnings per share for the current fiscal year.

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.