Flagship Wealth Advisors LLC Takes Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Flagship Wealth Advisors LLC acquired a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,106 shares of the credit services provider’s stock, valued at approximately $94,000.

Other hedge funds have also recently modified their holdings of the company. FMR LLC increased its holdings in PayPal by 86.3% in the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after buying an additional 7,767,072 shares during the period. World Investment Advisors LLC acquired a new position in PayPal in the 3rd quarter worth approximately $387,435,000. Robeco Institutional Asset Management B.V. increased its holdings in PayPal by 174.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after buying an additional 2,689,162 shares during the period. Raymond James Financial Inc. acquired a new position in PayPal in the 4th quarter worth approximately $135,537,000. Finally, Primecap Management Co. CA increased its holdings in PayPal by 21.6% in the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after buying an additional 1,069,356 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Performance

Shares of PayPal stock opened at $69.65 on Tuesday. The business has a 50-day moving average of $79.56 and a 200 day moving average of $80.99. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66. The stock has a market capitalization of $68.90 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $8.27 billion. During the same period last year, the business posted $1.48 EPS. PayPal’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PYPL. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price target on shares of PayPal in a report on Thursday, December 12th. Piper Sandler lowered their price objective on PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Wednesday, February 26th. DZ Bank upgraded PayPal from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research report on Friday, February 28th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of PayPal in a research report on Wednesday, February 5th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $90.03.

Insider Activity

In other news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the transaction, the director now 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

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.