Independent Advisor Alliance Raises Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Independent Advisor Alliance lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 28.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,811 shares of the credit services provider’s stock after acquiring an additional 11,860 shares during the quarter. Independent Advisor Alliance’s holdings in PayPal were worth $4,593,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PYPL. Gordian Capital Singapore Pte Ltd purchased a new stake in PayPal during the third quarter worth $26,000. Rosenberg Matthew Hamilton raised its stake in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after buying an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its position in shares of PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after buying an additional 272 shares in the last quarter. Planning Capital Management Corp boosted its position in shares of PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after buying an additional 268 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in PayPal in the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Insider Buying and Selling

In other 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 transaction of $176,478.90. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on PYPL shares. Piper Sandler reduced their price target on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Morgan Stanley upped their target price on PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Wells Fargo & Company reissued an “equal weight” rating on shares of PayPal in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods upped their price objective on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $86.00 to $103.00 in a research report on Monday, December 9th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average price target of $90.03.

PayPal Stock Performance

Shares of PYPL stock opened at $67.98 on Wednesday. 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 company has a market cap of $67.25 billion, a PE ratio of 16.95, a P/E/G ratio of 1.27 and a beta of 1.52. The company’s fifty day simple moving average is $81.05 and its 200-day simple moving average is $81.08. PayPal Holdings, Inc. has a 52 week low of $56.97 and a 52 week high of $93.66.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 EPS 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 company had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the company posted $1.48 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current 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.