Commonwealth Equity Services LLC Acquires 22,435 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Commonwealth Equity Services LLC grew its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 321,606 shares of the credit services provider’s stock after purchasing an additional 22,435 shares during the quarter. Commonwealth Equity Services LLC’s holdings in PayPal were worth $27,449,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Mizuho Securities USA LLC boosted its stake in PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after acquiring an additional 10,419,351 shares during the last quarter. FMR LLC boosted its stake in PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares during the last quarter. World Investment Advisors LLC bought a new position in PayPal during the 3rd quarter worth approximately $387,435,000. Robeco Institutional Asset Management B.V. boosted its stake in PayPal by 174.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after acquiring an additional 2,689,162 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in PayPal during the 4th quarter worth approximately $135,537,000. Institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PYPL. Piper Sandler reduced their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 price target on shares of PayPal in a research note on Thursday, December 12th. Susquehanna lifted their price target on shares of PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research note on Monday, January 6th. Wolfe Research raised shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a research note on Friday, December 13th. Finally, Citigroup reaffirmed an “outperform” rating on shares of PayPal in a research note on Wednesday, February 5th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PayPal has an average rating of “Moderate Buy” and a consensus price target of $90.03.

Insider Activity

In other news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the sale, the director now owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is currently owned by company insiders.

PayPal Price Performance

NASDAQ:PYPL opened at $68.95 on Friday. PayPal Holdings, Inc. has a one year low of $56.97 and a one year high of $93.66. The company has a market cap of $68.21 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.27 and a beta of 1.52. The firm’s fifty day moving average price is $79.96 and its two-hundred day moving average price is $80.94. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the company earned $1.48 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Equities analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share 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.