Summit Global Investments Acquires 283 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Summit Global Investments lifted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,864 shares of the credit services provider’s stock after acquiring an additional 283 shares during the period. Summit Global Investments’ holdings in PayPal were worth $586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. United Bank grew its stake in shares of PayPal by 9.7% in the 3rd quarter. United Bank now owns 8,941 shares of the credit services provider’s stock worth $698,000 after acquiring an additional 794 shares in the last quarter. Meridian Wealth Management LLC grew its position in PayPal by 21.1% in the 3rd quarter. Meridian Wealth Management LLC now owns 9,499 shares of the credit services provider’s stock worth $741,000 after purchasing an additional 1,652 shares in the last quarter. Nicolet Advisory Services LLC grew its position in PayPal by 13.2% in the 3rd quarter. Nicolet Advisory Services LLC now owns 4,623 shares of the credit services provider’s stock worth $357,000 after purchasing an additional 539 shares in the last quarter. Cerity Partners LLC grew its position in PayPal by 27.9% in the 3rd quarter. Cerity Partners LLC now owns 289,735 shares of the credit services provider’s stock worth $22,608,000 after purchasing an additional 63,288 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its position in PayPal by 9.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 18,318 shares of the credit services provider’s stock worth $1,429,000 after purchasing an additional 1,652 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. Piper Sandler reduced their price objective on PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. DZ Bank upgraded shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Friday, February 28th. Keefe, Bruyette & Woods increased their price target on shares of PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Wolfe Research raised shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price for the company in a research report on Friday, December 13th. Fourteen equities research 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 stock. According to MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and an average price target of $90.03.

Insider Transactions at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the sale, the director now owns 29,734 shares of the company’s stock, valued at $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

PayPal Stock Performance

Shares of PYPL opened at $70.19 on Monday. The company has a market cap of $69.43 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. 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 stock has a 50-day moving average price of $78.19 and a 200-day moving average price of $80.92. PayPal Holdings, Inc. has a 12-month low of $56.97 and a 12-month high of $93.66.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the business posted $1.48 earnings per share. PayPal’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities analysts forecast that PayPal Holdings, Inc. will post 5.03 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.