Summit Global Investments Has $619,000 Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Summit Global Investments increased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,076 shares of the credit services provider’s stock after purchasing an additional 209 shares during the period. Summit Global Investments’ holdings in PayPal were worth $619,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its stake in PayPal by 5.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 478,411 shares of the credit services provider’s stock valued at $27,968,000 after buying an additional 24,231 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of PayPal by 41.2% in the third quarter. Stratos Wealth Partners LTD. now owns 32,119 shares of the credit services provider’s stock worth $1,878,000 after acquiring an additional 9,377 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in shares of PayPal by 114.3% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 7,500 shares of the credit services provider’s stock worth $438,000 after acquiring an additional 4,000 shares during the last quarter. Telemus Capital LLC boosted its stake in shares of PayPal by 58.7% in the 3rd quarter. Telemus Capital LLC now owns 10,387 shares of the credit services provider’s stock valued at $607,000 after purchasing an additional 3,843 shares in the last quarter. Finally, Veracity Capital LLC grew its holdings in shares of PayPal by 19.2% during the 3rd quarter. Veracity Capital LLC now owns 4,121 shares of the credit services provider’s stock valued at $241,000 after purchasing an additional 663 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on PYPL shares. Susquehanna raised their target price on shares of PayPal from $61.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. William Blair restated an “outperform” rating on shares of PayPal in a research report on Thursday, February 8th. Citigroup cut their price target on PayPal from $76.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Daiwa Capital Markets cut PayPal from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $64.00 to $62.00 in a report on Tuesday, February 13th. Finally, Sanford C. Bernstein lifted their target price on shares of PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Twenty-five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $72.73.

Insider Activity at PayPal

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

PayPal Stock Down 1.9 %

PayPal stock opened at $65.70 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $68.73 billion, a P/E ratio of 16.55, a P/E/G ratio of 1.20 and a beta of 1.41. The firm has a 50 day moving average price of $63.69 and a 200-day moving average price of $60.50. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $76.54.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. During the same period in the prior year, the business earned $0.86 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts predict that PayPal Holdings, Inc. will post 4.13 EPS for the current year.

About PayPal

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.