PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Acquired by Linscomb Wealth Inc.

Linscomb Wealth Inc. lifted its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,066 shares of the credit services provider’s stock after purchasing an additional 1,333 shares during the quarter. Linscomb Wealth Inc.’s holdings in PayPal were worth $1,746,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. increased its stake in PayPal by 77.5% in the first 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. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in PayPal in the 4th quarter valued at about $25,000. American National Bank purchased a new stake in PayPal during the 1st quarter valued at approximately $27,000. Register Financial Advisors LLC purchased a new position in shares of PayPal in the 1st quarter valued at approximately $30,000. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in shares of PayPal by 65.8% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Trading Up 1.9 %

Shares of PYPL traded up $1.07 during mid-day trading on Friday, hitting $58.29. The company had a trading volume of 11,323,434 shares, compared to its average volume of 10,263,198. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $76.54. The business’s 50-day simple moving average is $60.98 and its 200-day simple moving average is $62.15. The stock has a market cap of $60.97 billion, a PE ratio of 14.68, a P/E/G ratio of 0.93 and a beta of 1.42. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The company had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 EPS. Sell-side analysts forecast that PayPal Holdings, Inc. will post 4.15 earnings per share for the current year.

Insider Transactions at PayPal

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of PayPal stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the transaction, the director now directly owns 13,976 shares of the company’s stock, valued at $861,620.40. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

PYPL has been the topic of a number of analyst reports. Stephens lifted their price objective on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. JMP Securities lifted their target price on shares of PayPal from $70.00 to $82.00 and gave the company a “market outperform” rating in a report on Wednesday, May 1st. Robert W. Baird boosted their price target 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. TD Cowen raised their price objective on shares of PayPal from $58.00 to $68.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $84.00 target price on shares of PayPal in a research report on Friday, June 28th. Twenty equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.10.

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.