Norden Group LLC Buys 54,832 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Norden Group LLC lifted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 197.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,620 shares of the credit services provider’s stock after purchasing an additional 54,832 shares during the period. Norden Group LLC’s holdings in PayPal were worth $5,535,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. KPP Advisory Services LLC bought a new stake in PayPal in the 3rd quarter valued at $264,000. Rainsberger Wealth Advisors Inc. acquired a new stake in shares of PayPal during the 3rd quarter worth approximately $353,000. Royal London Asset Management Ltd. increased its stake in shares of PayPal by 5.2% in the 3rd quarter. Royal London Asset Management Ltd. now owns 753,290 shares of the credit services provider’s stock valued at $44,041,000 after purchasing an additional 36,970 shares during the last quarter. Dana Investment Advisors Inc. raised its holdings in shares of PayPal by 33.6% during the 3rd quarter. Dana Investment Advisors Inc. now owns 45,781 shares of the credit services provider’s stock worth $2,676,000 after buying an additional 11,523 shares in the last quarter. Finally, iA Global Asset Management Inc. raised its stake in PayPal by 30.2% during the third quarter. iA Global Asset Management Inc. now owns 103,268 shares of the credit services provider’s stock worth $6,037,000 after acquiring an additional 23,971 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Insider Activity

In other news, Director Deborah M. Messemer sold 4,422 shares of PayPal stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the sale, the director now directly owns 13,976 shares in the company, valued at approximately $861,620.40. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. JMP Securities upped their price objective on shares of PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 1st. Citigroup upped their price target on shares of PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Monness Crespi & Hardt raised their price objective on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a report on Monday, April 29th. Wells Fargo & Company upped their target price on PayPal from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. Finally, Susquehanna raised PayPal from a “neutral” rating to a “positive” rating and set a $71.00 price target on the stock in a research note on Tuesday. Twenty equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, PayPal has a consensus rating of “Hold” and an average target price of $73.82.

PayPal Trading Up 1.1 %

NASDAQ PYPL opened at $59.64 on Thursday. The business has a 50 day moving average price of $62.96 and a 200-day moving average price of $62.39. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $76.54. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. The company has a market cap of $62.39 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 0.96 and a beta of 1.42.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. PayPal’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts expect that PayPal Holdings, Inc. will post 4.14 earnings per share for the current fiscal 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.