Prosperity Wealth Management Inc. Has $451,000 Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Prosperity Wealth Management Inc. raised its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,907 shares of the credit services provider’s stock after purchasing an additional 505 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in PayPal were worth $451,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PYPL. Norges Bank acquired a new stake in shares of PayPal during the fourth quarter worth $1,086,508,000. Capital Research Global Investors lifted its holdings in shares of PayPal by 108.2% during the fourth quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock worth $1,529,823,000 after buying an additional 9,313,783 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of PayPal by 284.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock worth $666,100,000 after buying an additional 5,772,198 shares in the last quarter. FMR LLC lifted its holdings in shares of PayPal by 12.9% during the fourth quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock worth $1,615,134,000 after buying an additional 2,161,582 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of PayPal by 124.1% during the first quarter. Assenagon Asset Management S.A. now owns 3,497,415 shares of the credit services provider’s stock worth $228,206,000 after buying an additional 1,936,520 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Insider Activity

In other 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 completion of the transaction, the director now owns 13,976 shares of the company’s stock, valued at $1,020,248. This represents a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Suzan Kereere sold 4,162 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $304,824.88. Following the completion of the transaction, the insider now directly owns 48,483 shares of the company’s stock, valued at $3,550,894.92. This represents a 7.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,796 shares of company stock valued at $863,028 over the last quarter. 0.08% of the stock is owned by company insiders.

PayPal Stock Down 2.2%

Shares of NASDAQ PYPL opened at $70.67 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a market cap of $68.73 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 1.20 and a beta of 1.45. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The stock has a 50-day moving average price of $68.58 and a two-hundred day moving average price of $75.53.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.16 by $0.17. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The firm had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Wednesday, April 30th. Keefe, Bruyette & Woods dropped their target price on PayPal from $104.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, March 31st. Canaccord Genuity Group reissued a “buy” rating and set a $96.00 target price on shares of PayPal in a report on Wednesday, April 30th. Piper Sandler dropped their target price on PayPal from $76.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Finally, Citigroup dropped their target price on PayPal from $98.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $83.29.

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.