PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Bought by Summit Financial LLC

Summit Financial LLC lifted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 16.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,532 shares of the credit services provider’s stock after purchasing an additional 1,494 shares during the period. Summit Financial LLC’s holdings in PayPal were worth $899,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. United Bank boosted its holdings 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 worth $698,000 after buying an additional 794 shares during the period. Benjamin Edwards Inc. boosted its stake in PayPal by 8,335.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 27,837 shares of the credit services provider’s stock worth $2,172,000 after purchasing an additional 27,507 shares during the period. Ascent Group LLC purchased a new position in PayPal during the 3rd quarter worth approximately $201,000. HighTower Advisors LLC raised its stake in PayPal by 32.0% during the 3rd quarter. HighTower Advisors LLC now owns 481,312 shares of the credit services provider’s stock valued at $37,580,000 after purchasing an additional 116,600 shares during the period. Finally, Investment Management Corp of Ontario lifted its holdings in shares of PayPal by 28.7% in the third quarter. Investment Management Corp of Ontario now owns 47,569 shares of the credit services provider’s stock valued at $3,712,000 after purchasing an additional 10,600 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PYPL has been the topic of several recent analyst reports. StockNews.com lowered PayPal from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Keefe, Bruyette & Woods reduced their price target on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday. BTIG Research restated a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research note on Wednesday, February 26th. Finally, Arete Research cut shares of PayPal from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 27th. Sixteen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.40.

PayPal Stock Up 1.6 %

Shares of PYPL stock opened at $67.15 on Thursday. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month 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. The firm has a market cap of $66.43 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The stock has a 50 day moving average of $74.82 and a 200-day moving average of $80.74.

PayPal (NASDAQ:PYPL) last released 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. The firm had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 EPS. On average, equities analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insider Activity at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company’s 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 completion of the transaction, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

PayPal Profile

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.