Apollon Wealth Management LLC Has $1.47 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Apollon Wealth Management LLC lifted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 29.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,988 shares of the credit services provider’s stock after acquiring an additional 5,491 shares during the quarter. Apollon Wealth Management LLC’s holdings in PayPal were worth $1,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB grew its stake in PayPal by 420.6% during the third quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock worth $190,371,000 after purchasing an additional 2,616,774 shares during the period. FMR LLC grew its holdings in PayPal by 29.5% in the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock worth $404,367,000 after purchasing an additional 1,575,930 shares during the period. LSV Asset Management raised its holdings in shares of PayPal by 271.6% during the third quarter. LSV Asset Management now owns 1,533,300 shares of the credit services provider’s stock valued at $89,637,000 after purchasing an additional 1,120,700 shares during the period. Morgan Stanley boosted its position in shares of PayPal by 4.5% during the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after purchasing an additional 873,181 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in PayPal by 56.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,395,312 shares of the credit services provider’s stock valued at $140,030,000 after buying an additional 864,684 shares in the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Canaccord Genuity Group decreased their price objective on PayPal from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Monness Crespi & Hardt lifted their price objective on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a report on Monday, April 29th. William Blair reaffirmed an “outperform” rating on shares of PayPal in a research report on Thursday, February 8th. JMP Securities raised their target price on PayPal from $70.00 to $82.00 and gave the company a “market outperform” rating in a report on Wednesday, May 1st. Finally, Oppenheimer reissued a “market perform” rating on shares of PayPal in a research report on Thursday, January 25th. Twenty-five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $72.73.

Insider Activity at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the 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 transaction, the senior vice president now owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by insiders.

PayPal Price Performance

PYPL stock opened at $63.81 on Thursday. The firm has a 50 day moving average of $63.93 and a 200-day moving average of $60.72. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $66.75 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 1.18 and a beta of 1.41. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $76.54.

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