Principle Wealth Partners LLC Acquires New Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Principle Wealth Partners LLC acquired a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,355 shares of the credit services provider’s stock, valued at approximately $206,000.

Several other hedge funds have also recently made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of PayPal in the fourth quarter worth about $25,000. Sutton Wealth Advisors Inc. grew its stake in shares of PayPal by 115.0% during the 3rd quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 237 shares during the period. BluePath Capital Management LLC acquired a new stake in PayPal during the third quarter valued at $33,000. Beacon Capital Management LLC raised its position in shares of PayPal by 58.6% in the fourth quarter. Beacon Capital Management LLC now owns 609 shares of the credit services provider’s stock worth $36,000 after acquiring an additional 225 shares during the period. Finally, Criterion Capital Advisors LLC purchased a new position in PayPal during the fourth quarter worth approximately $37,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction 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 sale, the senior vice president now owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

PYPL has been the subject of several recent analyst reports. Mizuho cut their price target on shares of PayPal from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, February 8th. DZ Bank lowered shares of PayPal from a “buy” rating to a “hold” rating and set a $60.00 price target on the stock. in a research note on Friday, February 9th. Canaccord Genuity Group reduced their target price on PayPal from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, February 8th. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Oppenheimer reissued a “market perform” rating on shares of PayPal in a research note on Thursday, January 25th. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $70.72.

PayPal Stock Up 1.6 %

Shares of NASDAQ PYPL opened at $66.99 on Tuesday. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $76.54. The business’s 50 day moving average is $63.03 and its two-hundred day moving average is $60.27. The firm has a market cap of $70.52 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.23 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 posted its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.12. The firm had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. PayPal’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 EPS. Research analysts predict that PayPal Holdings, Inc. will post 4.02 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.