Pasadena Private Wealth LLC Takes Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Pasadena Private Wealth LLC bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,407 shares of the credit services provider’s stock, valued at approximately $228,000.

A number of other large investors also recently made changes to their positions in the business. Thrive Wealth Management LLC increased its holdings in PayPal by 29.4% in the first quarter. Thrive Wealth Management LLC now owns 6,048 shares of the credit services provider’s stock worth $405,000 after buying an additional 1,373 shares during the last quarter. Procyon Advisors LLC grew its position in PayPal by 13.6% in the first quarter. Procyon Advisors LLC now owns 41,405 shares of the credit services provider’s stock worth $2,774,000 after acquiring an additional 4,948 shares in the last quarter. Franklin Street Advisors Inc. NC increased its stake in shares of PayPal by 16.6% during the 1st quarter. Franklin Street Advisors Inc. NC now owns 156,155 shares of the credit services provider’s stock worth $10,461,000 after purchasing an additional 22,209 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in shares of PayPal by 47.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 18,526 shares of the credit services provider’s stock valued at $1,241,000 after purchasing an additional 5,985 shares in the last quarter. Finally, Revolve Wealth Partners LLC lifted its stake in shares of PayPal by 34.4% in the 1st quarter. Revolve Wealth Partners LLC now owns 2,962 shares of the credit services provider’s stock valued at $151,000 after purchasing an additional 758 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

PYPL has been the topic of several analyst reports. Sanford C. Bernstein increased their target price on shares of PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Stephens increased their price objective on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Evercore ISI boosted their target price on PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday. JMP Securities increased their price target on PayPal from $70.00 to $82.00 and gave the company a “market outperform” rating in a report on Wednesday, May 1st. Finally, Robert W. Baird boosted their price objective on shares of PayPal from $70.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Twenty-one equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, PayPal has a consensus rating of “Hold” and an average target price of $73.64.

PayPal Price Performance

Shares of PYPL traded up $0.32 during trading hours on Friday, hitting $58.69. The stock had a trading volume of 1,592,346 shares, compared to its average volume of 14,822,420. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $76.54. The stock has a market capitalization of $61.39 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 0.95 and a beta of 1.43. The company’s fifty day moving average is $63.34 and its two-hundred day moving average is $62.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.28.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data 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 firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. On average, analysts anticipate that PayPal Holdings, Inc. will post 4.14 EPS for the current year.

Insiders Place Their Bets

In other 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 value of $272,616.30. Following the completion of the sale, the director now directly owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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.