Sheets Smith Wealth Management Acquires 7,404 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Sheets Smith Wealth Management grew its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 110.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,119 shares of the credit services provider’s stock after purchasing an additional 7,404 shares during the period. Sheets Smith Wealth Management’s holdings in PayPal were worth $867,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PYPL. Morgan Stanley raised its holdings in shares of PayPal by 4.5% in the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after purchasing an additional 873,181 shares during the last quarter. Northern Trust Corp increased its position in shares of PayPal by 0.7% in the third quarter. Northern Trust Corp now owns 11,767,054 shares of the credit services provider’s stock valued at $687,902,000 after acquiring an additional 78,105 shares during the last quarter. FMR LLC raised its holdings in PayPal by 29.5% during the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock worth $404,367,000 after acquiring an additional 1,575,930 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in PayPal by 4.6% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,906,516 shares of the credit services provider’s stock valued at $286,835,000 after purchasing an additional 215,835 shares during the last quarter. Finally, Atreides Management LP grew its stake in PayPal by 9.3% in the third quarter. Atreides Management LP now owns 4,174,520 shares of the credit services provider’s stock valued at $244,042,000 after purchasing an additional 355,411 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PYPL shares. Canaccord Genuity Group decreased their price objective on shares of PayPal from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Citigroup lowered their price target on PayPal from $76.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Royal Bank of Canada lifted their target price on PayPal from $74.00 to $84.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Morgan Stanley restated an “equal weight” rating and issued a $66.00 price target (down previously from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. Finally, Monness Crespi & Hardt lifted their price objective on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Twenty-five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $72.73.

PayPal Stock Down 0.4 %

Shares of PYPL stock traded down $0.26 on Monday, hitting $65.44. The stock had a trading volume of 7,757,100 shares, compared to its average volume of 16,465,895. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $76.54. The stock has a market cap of $68.45 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.41. The business has a 50 day moving average of $63.69 and a 200 day moving average of $60.56. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.28.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. PayPal’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 EPS. As a group, analysts expect that PayPal Holdings, Inc. will post 4.13 EPS for the current year.

Insider Transactions at PayPal

In related news, SVP Frank Keller sold 7,686 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of the transaction, 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 available through this link. Company insiders own 0.14% 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.