Highland Capital Management LLC boosted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) by 20.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,852 shares of the credit services provider’s stock after acquiring an additional 8,850 shares during the period. Highland Capital Management LLC’s holdings in PayPal were worth $3,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of PayPal during the first quarter valued at about $28,000. Financial Management Professionals Inc. lifted its position in shares of PayPal by 272.5% during the second quarter. Financial Management Professionals Inc. now owns 447 shares of the credit services provider’s stock valued at $31,000 after buying an additional 327 shares during the last quarter. Addison Advisors LLC lifted its position in shares of PayPal by 100.7% during the first quarter. Addison Advisors LLC now owns 279 shares of the credit services provider’s stock valued at $32,000 after buying an additional 140 shares during the last quarter. Disciplined Investments LLC lifted its position in shares of PayPal by 82.9% during the first quarter. Disciplined Investments LLC now owns 311 shares of the credit services provider’s stock valued at $36,000 after buying an additional 141 shares during the last quarter. Finally, Intelligent Financial Strategies purchased a new stake in shares of PayPal during the fourth quarter valued at about $37,000. 70.67% of the stock is currently owned by institutional investors.
Insider Buying and Selling at PayPal
In other PayPal news, EVP Peggy Alford sold 21,791 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $97.82, for a total value of $2,131,595.62. Following the transaction, the executive vice president now owns 18,100 shares in the company, valued at approximately $1,770,542. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by insiders.
PayPal Trading Down 3.9 %
PayPal (NASDAQ:PYPL – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The credit services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.11. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.76 billion. PayPal had a return on equity of 16.79% and a net margin of 7.79%. Research analysts expect that PayPal Holdings, Inc. will post 2.89 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have commented on PYPL. Royal Bank of Canada increased their price target on shares of PayPal from $92.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, August 3rd. Wolfe Research lowered shares of PayPal from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 20th. Morgan Stanley increased their price objective on shares of PayPal from $129.00 to $134.00 and gave the company an “overweight” rating in a research report on Wednesday, August 3rd. BMO Capital Markets increased their price objective on shares of PayPal from $114.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, August 4th. Finally, Truist Financial increased their price objective on shares of PayPal from $80.00 to $108.00 and gave the company a “hold” rating in a research report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and thirty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $134.23.
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company's payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 100 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
- Get a free copy of the StockNews.com research report on PayPal (PYPL)
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