Peapack Gladstone Financial Corp Grows Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Peapack Gladstone Financial Corp lifted its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 228,413 shares of the credit services provider’s stock after purchasing an additional 204 shares during the period. Peapack Gladstone Financial Corp’s holdings in PayPal were worth $19,495,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PayPal in the third quarter valued at about $26,000. Rosenberg Matthew Hamilton grew its stake in shares of PayPal by 67.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares during the last quarter. Hurley Capital LLC purchased a new position in PayPal during the 4th quarter valued at about $27,000. Sugarloaf Wealth Management LLC raised its position in PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 272 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in PayPal in the 3rd quarter worth approximately $36,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the transaction, the director now owns 29,734 shares in the company, valued at $2,145,308.10. This represents a 7.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PYPL. Citigroup reaffirmed an “outperform” rating on shares of PayPal in a research note on Wednesday, February 5th. Piper Sandler cut their target price on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Macquarie raised their price objective on shares of PayPal from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Finally, Susquehanna increased their target price on PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research report on Monday, January 6th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.13.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $58.37 on Friday. The firm’s 50-day moving average price is $73.65 and its 200-day moving average price is $80.58. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66. The company has a market cap of $57.74 billion, a PE ratio of 14.56, a PEG ratio of 1.27 and a beta of 1.60. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 EPS. As a group, analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

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.