Summit Financial LLC Acquires 1,494 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Summit Financial LLC grew its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 16.5% during the 4th quarter, HoldingsChannel reports. The firm owned 10,532 shares of the credit services provider’s stock after acquiring an additional 1,494 shares during the quarter. Summit Financial LLC’s holdings in PayPal were worth $899,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Edmond DE Rothschild Holding S.A. boosted its stake in PayPal by 90.4% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 80,084 shares of the credit services provider’s stock valued at $6,835,000 after buying an additional 38,021 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of PayPal by 41.3% in the 4th quarter. Meeder Asset Management Inc. now owns 2,303 shares of the credit services provider’s stock valued at $197,000 after purchasing an additional 673 shares in the last quarter. AIA Group Ltd bought a new stake in shares of PayPal in the 4th quarter worth about $2,065,000. O Shaughnessy Asset Management LLC increased its position in shares of PayPal by 195.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 228,164 shares of the credit services provider’s stock worth $19,474,000 after purchasing an additional 150,895 shares in the last quarter. Finally, United Bank lifted its holdings in PayPal by 8.2% during the 4th quarter. United Bank now owns 9,675 shares of the credit services provider’s stock valued at $826,000 after purchasing an additional 734 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the sale, the director now directly owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PYPL shares. Piper Sandler decreased their price objective on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Robert W. Baird cut their price objective on PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Barclays increased their target price on PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Bank of America raised PayPal from a “neutral” rating to a “buy” rating and lifted their price target for the company from $86.00 to $103.00 in a report on Monday, December 9th. Finally, StockNews.com lowered shares of PayPal from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Sixteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PayPal currently has an average rating of “Moderate Buy” and a consensus target price of $89.40.

PayPal Stock Performance

PYPL stock opened at $67.15 on Thursday. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm has a market cap of $66.43 billion, a PE ratio of 16.75, a P/E/G ratio of 1.27 and a beta of 1.52. The business’s 50-day moving average price is $74.82 and its two-hundred day moving average price is $80.74.

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

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.