Independence Bank of Kentucky Buys 2,150 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Independence Bank of Kentucky grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 1,194.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,330 shares of the credit services provider’s stock after buying an additional 2,150 shares during the period. Independence Bank of Kentucky’s holdings in PayPal were worth $143,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PYPL. Mirae Asset Global Investments Co. Ltd. increased its position in shares of PayPal by 12.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,246,996 shares of the credit services provider’s stock valued at $144,215,000 after buying an additional 138,875 shares during the period. Dakota Wealth Management increased its position in shares of PayPal by 8.6% in the first quarter. Dakota Wealth Management now owns 4,894 shares of the credit services provider’s stock worth $566,000 after purchasing an additional 387 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in PayPal by 15.4% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,860 shares of the credit services provider’s stock valued at $793,000 after purchasing an additional 918 shares in the last quarter. Covestor Ltd raised its stake in PayPal by 136.1% in the first quarter. Covestor Ltd now owns 1,334 shares of the credit services provider’s stock valued at $154,000 after purchasing an additional 769 shares in the last quarter. Finally, Donaldson Capital Management LLC raised its stake in PayPal by 5.3% in the first quarter. Donaldson Capital Management LLC now owns 3,095 shares of the credit services provider’s stock valued at $358,000 after purchasing an additional 155 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

Insider Activity at PayPal

In related news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the sale, the senior vice president now owns 23,430 shares in the company, valued at $1,420,795.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Mizuho lowered their target price on shares of PayPal from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. BMO Capital Markets lowered their target price on shares of PayPal from $65.00 to $60.00 and set a “market perform” rating on the stock in a research note on Thursday, February 8th. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research note on Friday, January 5th. Evercore ISI raised their target price on shares of PayPal from $56.00 to $60.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Finally, Monness Crespi & Hardt lowered their target price on shares of PayPal from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Twenty-four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $70.47.

Get Our Latest Report on PYPL

PayPal Stock Up 1.1 %

Shares of PayPal stock opened at $65.34 on Thursday. The stock has a market capitalization of $70.03 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 1.46 and a beta of 1.45. The company’s 50 day moving average price is $61.60 and its 200-day moving average price is $59.46. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $77.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29.

PayPal (NASDAQ:PYPLGet Free Report) last released its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.12. The business had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 earnings per share. Equities research analysts forecast that PayPal Holdings, Inc. will post 3.95 EPS for the current year.

PayPal Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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