PayPal (NASDAQ:PYPL) Trading 1.4% Higher – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL) shares were up 1.4% on Monday . The stock traded as high as $71.94 and last traded at $71.06. Approximately 3,703,234 shares were traded during trading, a decline of 66% from the average daily volume of 10,984,326 shares. The stock had previously closed at $70.05.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods reduced their target price on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, March 31st. Wall Street Zen raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. DZ Bank upgraded shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a report on Friday, February 28th. Wells Fargo & Company dropped their target price on shares of PayPal from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Finally, UBS Group reduced their target price on shares of PayPal from $88.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $83.29.

PayPal Trading Up 2.3%

The business’s 50 day simple moving average is $68.98 and its 200-day simple moving average is $75.06. The stock has a market capitalization of $69.72 billion, a P/E ratio of 16.04, a PEG ratio of 1.16 and a beta of 1.45. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30.

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

Insider Transactions at PayPal

In other PayPal news, insider Suzan Kereere sold 4,162 shares of PayPal 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 transaction, the insider now owns 48,483 shares of the company’s stock, valued at approximately $3,550,894.92. The trade was a 7.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Diego Scotti sold 3,839 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $281,168.36. Following the sale, the executive vice president now directly owns 16,989 shares of the company’s stock, valued at $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 valued at $863,028 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PayPal

A number of large investors have recently bought and sold shares of PYPL. Avalon Trust Co boosted its stake in shares of PayPal by 7.0% during the 4th quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider’s stock worth $176,000 after buying an additional 135 shares during the last quarter. Security National Bank of SO Dak boosted its position in PayPal by 1.1% during the fourth quarter. Security National Bank of SO Dak now owns 12,191 shares of the credit services provider’s stock valued at $1,041,000 after purchasing an additional 137 shares during the last quarter. Gordian Capital Singapore Pte Ltd grew its stake in PayPal by 41.2% in the first quarter. Gordian Capital Singapore Pte Ltd now owns 473 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 138 shares in the last quarter. Stegent Equity Advisors Inc. increased its position in shares of PayPal by 3.2% during the 4th quarter. Stegent Equity Advisors Inc. now owns 4,546 shares of the credit services provider’s stock worth $388,000 after purchasing an additional 142 shares during the last quarter. Finally, CreativeOne Wealth LLC raised its stake in shares of PayPal by 1.5% during the 1st quarter. CreativeOne Wealth LLC now owns 9,387 shares of the credit services provider’s stock worth $613,000 after purchasing an additional 142 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.