Modern Wealth Management LLC Purchases New Shares in PayPal Holdings, Inc. (NASDAQ:PYPL)

Modern Wealth Management LLC acquired a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,161 shares of the credit services provider’s stock, valued at approximately $247,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. United Bank raised its position in shares of PayPal by 9.7% in the third quarter. United Bank now owns 8,941 shares of the credit services provider’s stock valued at $698,000 after buying an additional 794 shares in the last quarter. Townsquare Capital LLC raised its holdings in PayPal by 23.1% in the 3rd quarter. Townsquare Capital LLC now owns 41,561 shares of the credit services provider’s stock valued at $3,243,000 after acquiring an additional 7,812 shares in the last quarter. Freedom Investment Management Inc. bought a new stake in shares of PayPal during the 3rd quarter valued at $359,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of PayPal by 5.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 321,643 shares of the credit services provider’s stock worth $25,098,000 after purchasing an additional 16,510 shares in the last quarter. Finally, CreativeOne Wealth LLC bought a new position in shares of PayPal in the third quarter worth $582,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Robert W. Baird cut their price objective on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of PayPal in a research report on Thursday, December 12th. DZ Bank upgraded shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Friday, February 28th. Morgan Stanley raised their target price on PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of PayPal in a report on Wednesday, February 5th. Fifteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $90.03.

Insider Activity

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the sale, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

PayPal Stock Down 5.4 %

Shares of NASDAQ PYPL opened at $65.15 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm has a market cap of $64.45 billion, a PE ratio of 16.25, a P/E/G ratio of 1.27 and a beta of 1.52. The company’s fifty day simple moving average is $76.28 and its 200 day simple moving average is $80.73. PayPal Holdings, Inc. has a 12-month low of $56.97 and a 12-month high of $93.66.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the business posted $1.48 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share 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.