Legacy Capital Wealth Partners LLC Has $488,000 Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Legacy Capital Wealth Partners LLC raised its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 30.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,945 shares of the credit services provider’s stock after purchasing an additional 1,868 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in PayPal were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of PayPal during the 4th quarter worth $25,000. Sutton Wealth Advisors Inc. raised its position in PayPal by 115.0% during 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 in the last quarter. BluePath Capital Management LLC bought a new stake in PayPal during the third quarter worth $33,000. Criterion Capital Advisors LLC bought a new position in shares of PayPal in the 4th quarter valued at $37,000. Finally, Beacon Capital Management LLC boosted its stake in PayPal by 58.6% in the fourth quarter. Beacon Capital Management LLC now owns 609 shares of the credit services provider’s stock valued at $36,000 after buying an additional 225 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Insider Buying and Selling

In related news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction dated 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 directly owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PYPL shares. Daiwa Capital Markets cut PayPal from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $64.00 to $62.00 in a research note on Tuesday, February 13th. Monness Crespi & Hardt increased their price objective on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a report on Monday. Oppenheimer reiterated a “market perform” rating on shares of PayPal in a research report on Thursday, January 25th. Stephens restated an “equal weight” rating and set a $70.00 price objective on shares of PayPal in a research report on Thursday, February 8th. Finally, Canaccord Genuity Group reduced their target price on PayPal from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $70.72.

PayPal Trading Up 2.9 %

PYPL stock opened at $65.96 on Monday. The company has a market capitalization of $69.43 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.23 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $76.54. The business has a 50 day simple moving average of $62.87 and a two-hundred day simple moving average of $60.19.

PayPal (NASDAQ:PYPL) last issued its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. The firm had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 earnings per share. Research analysts anticipate that PayPal Holdings, Inc. will post 4.02 EPS 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.