Fifth Third Wealth Advisors LLC Makes New $636,000 Investment in PayPal Holdings, Inc. (NASDAQ:PYPL)

Fifth Third Wealth Advisors LLC acquired a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) in the 2nd quarter, HoldingsChannel reports. The firm acquired 10,952 shares of the credit services provider’s stock, valued at approximately $636,000.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of PayPal during the fourth quarter valued at about $749,561,000. Charles Schwab Investment Management Inc. lifted its stake in shares of PayPal by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock valued at $428,449,000 after purchasing an additional 265,116 shares during the period. Clearbridge Investments LLC boosted its position in shares of PayPal by 15.8% during the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after purchasing an additional 904,804 shares in the last quarter. First Trust Advisors LP grew its stake in PayPal by 1.7% in the fourth quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock worth $225,283,000 after purchasing an additional 61,384 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in PayPal by 31.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock worth $194,262,000 after purchasing an additional 687,940 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on PYPL shares. Barclays boosted their target price on shares of PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. BMO Capital Markets raised their target price on shares of PayPal from $65.00 to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 target price on shares of PayPal in a report on Wednesday, July 31st. Finally, Evercore ISI raised their price target on PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Seventeen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and an average price target of $75.56.

Insider Buying and Selling

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

PayPal Price Performance

Shares of PYPL traded up $0.96 during mid-day trading on Thursday, reaching $72.42. The stock had a trading volume of 913,668 shares, compared to its average volume of 14,404,032. The business has a fifty day moving average of $61.58 and a 200 day moving average of $62.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $74.04 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 0.97 and a beta of 1.42. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $72.77.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the prior year, the firm posted $0.83 EPS. PayPal’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities analysts predict that PayPal Holdings, Inc. will post 4.42 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.