Spire Wealth Management Boosts Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Spire Wealth Management grew its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 57.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,671 shares of the credit services provider’s stock after acquiring an additional 15,183 shares during the quarter. Spire Wealth Management’s holdings in PayPal were worth $2,719,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in PYPL. Brighton Jones LLC increased its holdings in shares of PayPal by 15.2% in the 4th quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider’s stock valued at $596,000 after acquiring an additional 924 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in shares of PayPal in the 4th quarter valued at approximately $248,000. Y Intercept Hong Kong Ltd bought a new stake in shares of PayPal in the 4th quarter valued at approximately $1,348,000. IFP Advisors Inc increased its holdings in shares of PayPal by 55.7% in the 4th quarter. IFP Advisors Inc now owns 12,220 shares of the credit services provider’s stock valued at $1,043,000 after acquiring an additional 4,370 shares during the last quarter. Finally, Crestwood Advisors Group LLC increased its holdings in shares of PayPal by 22.6% in the 4th quarter. Crestwood Advisors Group LLC now owns 4,516 shares of the credit services provider’s stock valued at $385,000 after acquiring an additional 831 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Deborah M. Messemer sold 3,795 shares of the company’s stock in a transaction 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 sale, the director now owns 13,976 shares in the company, valued at $1,020,248. This represents a 21.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Diego Scotti sold 3,839 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $281,168.36. Following the sale, the executive vice president now directly owns 16,989 shares of the company’s stock, valued at approximately $1,244,274.36. This represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,796 shares of company stock worth $863,028 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PYPL shares. BMO Capital Markets lowered their price target on PayPal from $83.00 to $79.00 and set a “market perform” rating for the company in a report on Wednesday, April 30th. Keefe, Bruyette & Woods lowered their price objective on PayPal from $104.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, March 31st. Robert W. Baird upped their price objective on PayPal from $78.00 to $79.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. UBS Group lowered their price objective on PayPal from $88.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Finally, Compass Point began coverage on PayPal in a research note on Wednesday, April 23rd. They set a “sell” rating and a $56.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $83.42.

PayPal Trading Down 0.7%

Shares of PayPal stock opened at $73.07 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a market cap of $71.06 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. The business has a fifty day simple moving average of $69.66 and a 200-day simple moving average of $74.91. PayPal Holdings, Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $93.66.

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

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.