Mutual Advisors LLC grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 17.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,899 shares of the credit services provider's stock after acquiring an additional 4,247 shares during the period. Mutual Advisors LLC's holdings in PayPal were worth $3,342,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its position in shares of PayPal by 2.8% during the 4th quarter. State Street Corp now owns 46,489,371 shares of the credit services provider's stock valued at $8,766,966,000 after acquiring an additional 1,257,110 shares during the period. Geode Capital Management LLC increased its stake in shares of PayPal by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 19,184,985 shares of the credit services provider's stock worth $3,608,177,000 after purchasing an additional 304,806 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of PayPal by 16.0% during the 1st quarter. Fisher Asset Management LLC now owns 16,777,545 shares of the credit services provider's stock worth $1,940,323,000 after purchasing an additional 2,308,557 shares in the last quarter. Fundsmith LLP increased its stake in shares of PayPal by 5.9% during the 4th quarter. Fundsmith LLP now owns 13,019,452 shares of the credit services provider's stock worth $2,455,208,000 after purchasing an additional 730,632 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of PayPal by 14.7% during the 4th quarter. Alliancebernstein L.P. now owns 10,280,330 shares of the credit services provider's stock worth $1,938,665,000 after purchasing an additional 1,315,555 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.
Get PayPal alerts:PayPal Stock Performance
Shares of PayPal stock opened at $95.32 on Monday. The firm has a market cap of $110.38 billion, a PE ratio of 54.78, a price-to-earnings-growth ratio of 2.22 and a beta of 1.49. The firm's 50-day simple moving average is $79.13 and its 200-day simple moving average is $97.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.23 and a current ratio of 1.23. PayPal Holdings, Inc. has a 1 year low of $67.58 and a 1 year high of $296.70.
Insider Activity
In other news, EVP Peggy Alford sold 21,791 shares of the company's stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $97.82, for a total value of $2,131,595.62. Following the sale, the executive vice president now owns 18,100 shares in the company, valued at approximately $1,770,542. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the stock. Barclays raised their price objective on shares of PayPal from $125.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday. StockNews.com cut shares of PayPal from a "hold" rating to a "sell" rating in a research note on Saturday, June 4th. Cowen dropped their price objective on shares of PayPal from $174.00 to $104.00 in a research note on Thursday, April 28th. Jefferies Financial Group dropped their price objective on shares of PayPal from $105.00 to $95.00 in a research note on Thursday, April 28th. Finally, Morgan Stanley lifted their target price on shares of PayPal from $129.00 to $134.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $139.43.
PayPal Company Profile
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PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company's payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 100 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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