Ethic Inc. Acquires 8,738 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Ethic Inc. raised its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 84,463 shares of the credit services provider’s stock after purchasing an additional 8,738 shares during the period. Ethic Inc.’s holdings in PayPal were worth $7,209,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PYPL. Relyea Zuckerberg Hanson LLC raised its holdings in PayPal by 113.8% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock worth $638,000 after buying an additional 3,976 shares during the last quarter. Nikko Asset Management Americas Inc. increased its position in PayPal by 2.7% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider’s stock valued at $59,489,000 after acquiring an additional 18,172 shares during the last quarter. ExodusPoint Capital Management LP grew its position in shares of PayPal by 223.1% during the 4th quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider’s stock valued at $22,622,000 after acquiring an additional 183,011 shares during the period. StoneX Group Inc. increased its holdings in PayPal by 70.4% in the 4th quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider’s stock worth $2,326,000 after acquiring an additional 11,260 shares in the last quarter. Finally, Ring Mountain Capital LLC bought a new stake in PayPal during the 4th quarter worth approximately $581,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction on 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 directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PYPL has been the subject of a number of analyst reports. Evercore ISI assumed coverage on shares of PayPal in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $65.00 price objective for the company. UBS Group cut their price target on PayPal from $88.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Piper Sandler decreased their price target on PayPal from $76.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Finally, DZ Bank raised PayPal from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.68.

PayPal Price Performance

PayPal stock opened at $70.26 on Friday. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66. 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 firm has a 50-day moving average price of $65.65 and a 200-day moving average price of $77.72. The firm has a market capitalization of $68.33 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.17. The business had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 earnings per share. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 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.