PayPal Holdings, Inc. (NASDAQ:PYPL) Holdings Raised by Golden State Wealth Management LLC

Golden State Wealth Management LLC grew its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 299.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,575 shares of the credit services provider’s stock after acquiring an additional 2,679 shares during the quarter. Golden State Wealth Management LLC’s holdings in PayPal were worth $233,000 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. 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. Kovack Advisors Inc. grew its stake in PayPal by 8.6% during the 4th quarter. Kovack Advisors Inc. now owns 8,157 shares of the credit services provider’s stock worth $696,000 after buying an additional 648 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in PayPal during the 4th quarter worth $18,445,000. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PYPL. Monness Crespi & Hardt lowered their price objective on PayPal from $120.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. 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. BMO Capital Markets lowered their price objective on PayPal from $83.00 to $79.00 and set a “market perform” rating for the company in a research note on Wednesday, April 30th. Piper Sandler upgraded PayPal to a “neutral” rating and set a $74.00 price objective for the company in a research note on Tuesday. Finally, Bank of America lowered their price objective on PayPal from $103.00 to $93.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $83.42.

Insider Activity

In other news, insider Suzan Kereere sold 4,162 shares of the company’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $304,824.88. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Deborah M. Messemer sold 3,795 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.00, for a total value of $277,035.00. Following the transaction, the director now directly owns 13,976 shares in the company, valued at $1,020,248. The trade was a 21.36% 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 valued at $863,028 over the last three months. Insiders own 0.08% of the company’s stock.

PayPal Trading Up 0.6%

Shares of PayPal stock opened at $73.64 on Friday. 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 $71.62 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 1.21 and a beta of 1.45. The business has a fifty day simple moving average of $70.16 and a 200-day simple moving average of $74.69. 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 earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating 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 business had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. During the same period in the prior year, the business posted $1.08 earnings per share. PayPal’s revenue was up 1.2% compared to the same quarter last year. 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.