Procyon Advisors LLC Boosts Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Procyon Advisors LLC boosted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,405 shares of the credit services provider’s stock after acquiring an additional 4,948 shares during the quarter. Procyon Advisors LLC’s holdings in PayPal were worth $2,774,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PYPL. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in PayPal in the fourth quarter worth about $25,000. American National Bank purchased a new stake in PayPal in the first quarter worth about $27,000. Private Wealth Management Group LLC purchased a new stake in PayPal in the fourth quarter worth about $29,000. Spartan Planning & Wealth Management increased its position in PayPal by 13,625.0% in the fourth quarter. Spartan Planning & Wealth Management now owns 549 shares of the credit services provider’s stock worth $34,000 after buying an additional 545 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in PayPal in the first quarter worth about $34,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

PYPL has been the subject of a number of analyst reports. BMO Capital Markets upped their price target on PayPal from $64.00 to $65.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 1st. Stephens upped their price target on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Monness Crespi & Hardt upped their price target on PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research note on Tuesday, April 30th. Finally, JMP Securities upped their price objective on PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 1st. Twenty-one research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $73.64.

Insiders Place Their Bets

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the transaction, the director now directly owns 13,976 shares in the company, valued at approximately $861,620.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by company insiders.

PayPal Trading Up 0.2 %

Shares of NASDAQ PYPL opened at $58.37 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. The business’s 50 day moving average price is $63.34 and its 200-day moving average price is $62.44. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $76.54. The company has a market cap of $61.06 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 0.95 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 earnings per share. On average, sell-side analysts expect that PayPal Holdings, Inc. will post 4.14 earnings per share 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.