Atomi Financial Group Inc. Purchases 5,912 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Atomi Financial Group Inc. raised its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 87.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,644 shares of the credit services provider’s stock after purchasing an additional 5,912 shares during the period. Atomi Financial Group Inc.’s holdings in PayPal were worth $847,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new position in PayPal during the fourth quarter worth about $749,561,000. The Manufacturers Life Insurance Company boosted its position in PayPal by 125.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after buying an additional 958,130 shares during the period. Boston Partners boosted its position in PayPal by 4,024.5% during the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock valued at $48,099,000 after buying an additional 764,258 shares during the period. Panagora Asset Management Inc. raised its holdings in PayPal by 1,309.2% in the 4th quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock worth $49,168,000 after purchasing an additional 743,833 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of PayPal by 6,724.3% in the 4th quarter. International Assets Investment Management LLC now owns 658,070 shares of the credit services provider’s stock worth $40,412,000 after acquiring an additional 648,427 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

PYPL has been the topic of a number of recent analyst reports. BMO Capital Markets raised their price target on shares of PayPal from $64.00 to $65.00 and gave the company a “market perform” rating in a report on Wednesday, May 1st. Mizuho upgraded shares of PayPal from a “neutral” rating to a “buy” rating and upped their price target for the stock from $68.00 to $90.00 in a research report on Thursday, May 30th. Robert W. Baird upped their price target on shares of PayPal from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group reissued a “neutral” rating and issued a $69.00 target price on shares of PayPal in a report on Monday, June 24th. Finally, Evercore ISI upped their price target on shares of PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Twenty equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.82.

Insider Activity at PayPal

In related news, Director Deborah M. Messemer sold 4,422 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $61.65, for a total value of $272,616.30. Following the transaction, the director now owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by company insiders.

PayPal Trading Up 0.5 %

Shares of NASDAQ:PYPL traded up $0.29 during midday trading on Monday, hitting $60.56. The company had a trading volume of 6,314,670 shares, compared to its average volume of 14,650,508. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $76.54. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The stock has a market cap of $63.35 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 0.98 and a beta of 1.42. The firm has a fifty day simple moving average of $61.92 and a 200 day simple moving average of $62.24.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. On average, analysts predict that PayPal Holdings, Inc. will post 4.14 EPS for the current year.

PayPal Company 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.