Arkfeld Wealth Strategies L.L.C. Buys 34,290 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Arkfeld Wealth Strategies L.L.C. grew its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 916.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,030 shares of the credit services provider’s stock after acquiring an additional 34,290 shares during the period. PayPal accounts for approximately 1.4% of Arkfeld Wealth Strategies L.L.C.’s holdings, making the stock its 17th largest position. Arkfeld Wealth Strategies L.L.C.’s holdings in PayPal were worth $2,505,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PYPL. Hartford Financial Management Inc. lifted its holdings in shares of PayPal by 18.8% during the 4th quarter. Hartford Financial Management Inc. now owns 1,032 shares of the credit services provider’s stock worth $63,000 after acquiring an additional 163 shares during the last quarter. Pine Haven Investment Counsel Inc lifted its holdings in shares of PayPal by 3.7% during the 4th quarter. Pine Haven Investment Counsel Inc now owns 4,705 shares of the credit services provider’s stock worth $289,000 after acquiring an additional 170 shares during the last quarter. Brooks Moore & Associates Inc. lifted its holdings in shares of PayPal by 1.3% during the 3rd quarter. Brooks Moore & Associates Inc. now owns 14,391 shares of the credit services provider’s stock worth $841,000 after acquiring an additional 180 shares during the last quarter. Waldron Private Wealth LLC lifted its holdings in shares of PayPal by 1.9% during the 4th quarter. Waldron Private Wealth LLC now owns 9,619 shares of the credit services provider’s stock worth $590,000 after acquiring an additional 182 shares during the last quarter. Finally, New World Advisors LLC lifted its holdings in shares of PayPal by 2.9% during the 4th quarter. New World Advisors LLC now owns 6,586 shares of the credit services provider’s stock worth $404,000 after acquiring an additional 185 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

Shares of PYPL traded down $1.07 during mid-day trading on Wednesday, hitting $58.26. 12,510,207 shares of the company traded hands, compared to its average volume of 14,955,856. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a 50-day moving average price of $63.44 and a two-hundred day moving average price of $62.47. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $76.54. The stock has a market cap of $60.94 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 0.97 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 21.58%. The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts anticipate that PayPal Holdings, Inc. will post 4.14 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on PYPL. Royal Bank of Canada lifted their price objective on shares of PayPal from $74.00 to $84.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Robert W. Baird lifted their target price on shares of PayPal from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Wells Fargo & Company lifted their target price on shares of PayPal from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Stephens lifted their target price on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Finally, UBS Group lifted their target price on shares of PayPal from $63.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Twenty-one investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $73.64.

Insider Buying and Selling at PayPal

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the company’s 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 $861,620.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by corporate insiders.

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.