CX Institutional Buys 61,797 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

CX Institutional grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 773.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,784 shares of the credit services provider’s stock after buying an additional 61,797 shares during the period. CX Institutional’s holdings in PayPal were worth $4,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mpwm Advisory Solutions LLC bought a new stake in shares of PayPal during the fourth quarter valued at approximately $25,000. Hurley Capital LLC bought a new stake in shares of PayPal during the fourth quarter valued at approximately $27,000. Bernard Wealth Management Corp. bought a new stake in shares of PayPal during the fourth quarter valued at approximately $34,000. Pinney & Scofield Inc. bought a new stake in shares of PayPal during the fourth quarter valued at approximately $35,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of PayPal during the fourth quarter valued at approximately $38,000. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

PYPL opened at $74.61 on Thursday. PayPal Holdings, Inc. has a 52-week low of $55.85 and a 52-week high of $93.66. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The company has a market cap of $72.56 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 1.27 and a beta of 1.45. The firm’s 50-day moving average price is $67.55 and its 200-day moving average price is $76.02.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.17. The firm had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. PayPal’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 earnings per share. As a group, equities analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Activity at PayPal

In other PayPal news, Director Deborah M. Messemer sold 3,795 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.00, for a total value of $277,035.00. Following the sale, the director now owns 13,976 shares in the company, valued at approximately $1,020,248. This represents a 21.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Diego Scotti sold 3,839 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $281,168.36. Following the completion of the sale, the executive vice president now owns 16,989 shares in the company, valued at approximately $1,244,274.36. This represents a 18.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,796 shares of company stock worth $863,028 over the last quarter. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

PYPL has been the topic of several research reports. Canaccord Genuity Group restated a “buy” rating and issued a $96.00 price target on shares of PayPal in a research report on Wednesday, April 30th. Truist Financial initiated coverage on shares of PayPal in a research report on Monday, June 2nd. They issued a “sell” rating and a $68.00 price target on the stock. Seaport Res Ptn cut shares of PayPal from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 17th. Compass Point initiated coverage on shares of PayPal in a research report on Wednesday, April 23rd. They issued a “sell” rating and a $56.00 price target on the stock. Finally, Morgan Stanley boosted their price target on shares of PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $83.29.

PayPal 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.