Pinnacle Wealth Planning Services Inc. Purchases 731 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Pinnacle Wealth Planning Services Inc. raised its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 10.6% in the first quarter, HoldingsChannel reports. The firm owned 7,634 shares of the credit services provider’s stock after buying an additional 731 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in PayPal were worth $511,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of PayPal during the 4th quarter valued at about $749,561,000. The Manufacturers Life Insurance Company lifted its holdings in PayPal by 125.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after purchasing an additional 958,130 shares in the last quarter. Boston Partners lifted its holdings in PayPal by 4,024.5% in the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock worth $48,099,000 after purchasing an additional 764,258 shares in the last quarter. Panagora Asset Management Inc. lifted 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, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in PayPal by 31.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock worth $194,262,000 after purchasing an additional 687,940 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

Insider Transactions at PayPal

In other news, Director Deborah M. Messemer sold 4,422 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

PYPL has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a report on Tuesday, April 30th. Susquehanna raised PayPal from a “neutral” rating to a “positive” rating and set a $71.00 target price on the stock in a research report on Tuesday, July 2nd. Wells Fargo & Company upped their price objective on PayPal from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Monness Crespi & Hardt upped their price objective on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Finally, StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. Twenty-one investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, PayPal has a consensus rating of “Hold” and an average target price of $73.82.

PayPal Stock Down 1.1 %

NASDAQ PYPL traded down $0.67 during trading on Friday, hitting $59.33. The company’s stock had a trading volume of 9,352,934 shares, compared to its average volume of 10,974,626. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $62.06 billion, a PE ratio of 14.94, a P/E/G ratio of 0.97 and a beta of 1.42. The business’s 50 day simple moving average is $61.52 and its 200-day simple moving average is $62.19. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $76.54.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results 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 business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same period in the prior year, the business posted $0.86 EPS. PayPal’s revenue was up 9.4% compared to the same quarter last year. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 4.15 EPS for the current fiscal 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.