1,588,013 Shares in PayPal Holdings, Inc. (NASDAQ:PYPL) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,588,013 shares of the credit services provider’s stock, valued at approximately $135,537,000. Raymond James Financial Inc. owned approximately 0.16% of PayPal at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PYPL. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of PayPal during the third quarter worth about $26,000. Rosenberg Matthew Hamilton boosted its stake in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after buying an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its stake in PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares during the last quarter. Planning Capital Management Corp boosted its stake in PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after buying an additional 268 shares during the last quarter. Finally, Legacy Investment Solutions LLC bought a new position in PayPal during the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the transaction, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PYPL shares. Morgan Stanley increased their price target on PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Piper Sandler dropped their price target on PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. DZ Bank raised PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research note on Friday, February 28th. Susquehanna increased their price target on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research note on Monday, January 6th. Finally, Macquarie raised their price objective on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.03.

PayPal Trading Up 3.5 %

PYPL opened at $70.48 on Friday. The stock’s fifty day moving average is $81.75 and its two-hundred day moving average is $81.00. The company has a market capitalization of $69.72 billion, a P/E ratio of 17.58, a PEG ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a 52 week low of $56.97 and a 52 week high of $93.66. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. PayPal’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the business posted $1.48 EPS. Analysts forecast that PayPal Holdings, Inc. will post 5.03 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.