EdgeRock Capital LLC Acquires New Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

EdgeRock Capital LLC acquired a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 572 shares of the credit services provider’s stock, valued at approximately $36,000.

Other institutional investors have also modified their holdings of the company. Verdence Capital Advisors LLC grew its position in PayPal by 8.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,926 shares of the credit services provider’s stock worth $230,000 after purchasing an additional 291 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of PayPal by 10.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,602,831 shares of the credit services provider’s stock valued at $93,702,000 after acquiring an additional 156,246 shares in the last quarter. Advisor Partners II LLC boosted its holdings in shares of PayPal by 17.3% in the third quarter. Advisor Partners II LLC now owns 23,293 shares of the credit services provider’s stock valued at $1,362,000 after acquiring an additional 3,428 shares in the last quarter. Altfest L J & Co. Inc. boosted its holdings in shares of PayPal by 42.6% in the third quarter. Altfest L J & Co. Inc. now owns 7,362 shares of the credit services provider’s stock valued at $430,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Graypoint LLC boosted its holdings in shares of PayPal by 11.9% in the third quarter. Graypoint LLC now owns 9,917 shares of the credit services provider’s stock valued at $580,000 after acquiring an additional 1,052 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PYPL shares. Daiwa Capital Markets cut shares of PayPal from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $64.00 to $62.00 in a report on Tuesday, February 13th. Wedbush reiterated an “outperform” rating and issued a $85.00 price objective on shares of PayPal in a report on Thursday, February 8th. Morgan Stanley reissued an “equal weight” rating and set a $66.00 target price (down from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. Citigroup cut their target price on shares of PayPal from $76.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Finally, Argus lowered shares of PayPal from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Twenty-five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, PayPal currently has an average rating of “Hold” and an average target price of $72.73.

Insider Activity at PayPal

In other PayPal news, SVP Frank Keller sold 7,686 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the sale, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

PayPal Stock Down 3.2 %

Shares of PYPL traded down $2.11 during mid-day trading on Wednesday, hitting $63.81. 11,175,602 shares of the company’s stock were exchanged, compared to its average volume of 16,367,253. The firm has a fifty day moving average of $63.93 and a two-hundred day moving average of $60.72. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $76.54. The stock has a market cap of $66.75 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 1.18 and a beta of 1.41. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last announced its quarterly 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 analyst estimates of $7.52 billion. During the same quarter last year, the company earned $0.86 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.13 earnings per share 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.