Parallel Advisors LLC Boosts Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Parallel Advisors LLC raised its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 84,658 shares of the credit services provider’s stock after acquiring an additional 2,436 shares during the period. Parallel Advisors LLC’s holdings in PayPal were worth $7,226,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Relyea Zuckerberg Hanson LLC raised its stake in shares of PayPal by 113.8% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock worth $638,000 after buying an additional 3,976 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of PayPal during the 3rd quarter worth approximately $387,435,000. Equity Investment Corp raised its stake in shares of PayPal by 3.5% during the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock worth $155,927,000 after buying an additional 67,497 shares in the last quarter. Fortem Financial Group LLC raised its stake in shares of PayPal by 28.0% during the 4th quarter. Fortem Financial Group LLC now owns 33,302 shares of the credit services provider’s stock worth $2,842,000 after buying an additional 7,291 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of PayPal by 120.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,555,240 shares of the credit services provider’s stock worth $125,461,000 after buying an additional 849,311 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Price Performance

PYPL stock opened at $68.95 on Monday. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66. The stock’s fifty day simple moving average is $79.96 and its 200-day simple moving average is $81.02. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $68.21 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. The business had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the company posted $1.48 EPS. Equities research analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Wall Street Analyst Weigh In

PYPL has been the subject of a number of analyst reports. Wolfe Research raised PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price for the company in a research note on Friday, December 13th. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a report on Wednesday, February 26th. Citigroup restated an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of PayPal in a report on Tuesday, February 4th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.03.

Insider Buying and Selling

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the transaction, the director now directly owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

PayPal Company 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.