Rehmann Capital Advisory Group Acquires 2,588 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Rehmann Capital Advisory Group grew its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,458 shares of the credit services provider’s stock after purchasing an additional 2,588 shares during the period. Rehmann Capital Advisory Group’s holdings in PayPal were worth $2,003,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PYPL. Anchor Investment Management LLC lifted its stake in shares of PayPal by 9.9% in the 3rd quarter. Anchor Investment Management LLC now owns 35,219 shares of the credit services provider’s stock worth $2,748,000 after purchasing an additional 3,175 shares during the period. Boyar Asset Management Inc. purchased a new stake in PayPal during the third quarter valued at approximately $208,000. World Investment Advisors LLC bought a new position in PayPal in the third quarter worth approximately $5,296,000. Sfmg LLC purchased a new position in shares of PayPal during the 3rd quarter worth $234,000. Finally, Wilmington Savings Fund Society FSB grew its position in shares of PayPal by 196.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 10,221 shares of the credit services provider’s stock valued at $798,000 after acquiring an additional 6,772 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Insider Buying and Selling

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction 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 completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

PayPal Stock Down 0.7 %

PYPL stock opened at $65.84 on Thursday. PayPal Holdings, Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $93.66. The company’s 50 day moving average price is $66.08 and its 200 day moving average price is $78.30. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market capitalization of $64.35 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 1.27 and a beta of 1.60.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.17. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $7.79 billion during the quarter, compared to analysts’ expectations of $7.84 billion. During the same period in the prior year, the firm posted $1.08 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PYPL has been the subject of several recent research reports. Bank of America cut their price target on PayPal from $103.00 to $93.00 and set a “buy” rating for the company in a report on Monday, April 14th. Canaccord Genuity Group restated a “buy” rating and set a $96.00 target price on shares of PayPal in a research note on Wednesday. Wells Fargo & Company dropped their price target on shares of PayPal from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. UBS Group decreased their price objective on shares of PayPal from $88.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley upped their target price on shares of PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.72.

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.