Global Assets Advisory LLC Makes New Investment in PayPal Holdings, Inc. (NASDAQ:PYPL)

Global Assets Advisory LLC purchased a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 93,578 shares of the credit services provider’s stock, valued at approximately $6,269,000.

A number of other hedge funds have also modified their holdings of the stock. Sapient Capital LLC acquired a new position in PayPal in the 4th quarter worth about $806,000. Louisiana State Employees Retirement System bought a new position in PayPal during the fourth quarter valued at approximately $9,267,000. Bartlett & Co. LLC lifted its stake in PayPal by 8.5% in the fourth quarter. Bartlett & Co. LLC now owns 9,414 shares of the credit services provider’s stock valued at $594,000 after acquiring an additional 740 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in PayPal by 9.5% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 847,006 shares of the credit services provider’s stock worth $53,344,000 after acquiring an additional 73,687 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its stake in shares of PayPal by 4.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 20,242 shares of the credit services provider’s stock worth $1,183,000 after purchasing an additional 942 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Deborah M. Messemer sold 4,422 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the transaction, the director now owns 13,976 shares in the company, valued at $861,620.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

PYPL has been the subject of several analyst reports. BMO Capital Markets lifted their price objective on shares of PayPal from $64.00 to $65.00 and gave the company a “market perform” rating in a research note on Wednesday, May 1st. New Street Research assumed coverage on PayPal in a report on Friday, May 31st. They set a “buy” rating and a $80.00 price objective on the stock. Evercore ISI boosted their target price on PayPal from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Wednesday, May 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $78.00 price target on shares of PayPal in a report on Thursday, June 13th. Finally, Monness Crespi & Hardt boosted their price objective on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Twenty-one investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $73.48.

PayPal Price Performance

Shares of PYPL stock traded down $1.12 during trading hours on Monday, hitting $59.49. 10,449,394 shares of the company’s stock were exchanged, compared to its average volume of 15,021,538. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $76.54. The stock has a market cap of $62.23 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 0.98 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.28. The stock’s 50-day moving average is $63.60 and its 200-day moving average is $62.46.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The company had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 earnings per share. As a group, research analysts forecast that PayPal Holdings, Inc. will post 4.14 EPS for the current 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.