PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 14.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,597 shares of the credit services provider’s stock after purchasing an additional 3,183 shares during the period. Kingsview Wealth Management LLC’s holdings in PayPal were worth $1,648,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PYPL. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of PayPal during the fourth quarter valued at $25,000. Pittenger & Anderson Inc. increased its holdings in shares of PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the period. American National Bank acquired a new position in shares of PayPal in the 1st quarter valued at about $27,000. Private Wealth Management Group LLC acquired a new stake in shares of PayPal during the fourth quarter worth approximately $29,000. Finally, Register Financial Advisors LLC purchased a new position in PayPal during the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Insider Activity at PayPal

In other news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the sale, the director now owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

PayPal Price Performance

PayPal stock traded down $0.79 during mid-day trading on Friday, hitting $59.21. 6,940,084 shares of the company were exchanged, compared to its average volume of 14,491,734. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $76.54. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $61.59 and a 200 day moving average of $62.20. The company has a market capitalization of $61.94 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.42.

PayPal (NASDAQ:PYPL) last issued 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). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same period in the prior year, the company posted $0.86 earnings per share. PayPal’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts expect that PayPal Holdings, Inc. will post 4.14 earnings per share for the current year.

Wall Street Analyst Weigh In

PYPL has been the subject of several recent research reports. Sanford C. Bernstein increased their price objective on PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $69.00 price target on shares of PayPal in a research note on Monday, June 24th. New Street Research initiated coverage on PayPal in a report on Friday, May 31st. They set a “buy” rating and a $80.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $84.00 price objective on shares of PayPal in a research report on Friday, June 28th. Finally, StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Twenty-one equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $73.82.

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.