Thrive Wealth Management LLC Buys 1,373 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Thrive Wealth Management LLC increased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 29.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,048 shares of the credit services provider’s stock after buying an additional 1,373 shares during the quarter. Thrive Wealth Management LLC’s holdings in PayPal were worth $405,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Morgan Stanley lifted its holdings in PayPal by 4.5% during the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after purchasing an additional 873,181 shares during the last quarter. Norges Bank acquired a new position in PayPal in the 4th quarter valued at about $749,561,000. Charles Schwab Investment Management Inc. raised its holdings in PayPal by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock valued at $428,449,000 after acquiring an additional 265,116 shares during the period. Atreides Management LP lifted its position in PayPal by 9.3% during the third quarter. Atreides Management LP now owns 4,174,520 shares of the credit services provider’s stock worth $244,042,000 after acquiring an additional 355,411 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of PayPal by 1.7% during the fourth quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock worth $225,283,000 after acquiring an additional 61,384 shares during the period. 68.32% of the stock is owned by institutional investors.

PayPal Stock Up 0.2 %

PYPL stock traded up $0.11 during midday trading on Thursday, reaching $58.37. 11,636,252 shares of the company’s stock traded hands, compared to its average volume of 14,929,844. The company has a market cap of $61.06 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 0.97 and a beta of 1.43. The firm’s fifty day moving average price is $63.34 and its 200-day moving average price is $62.44. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $76.54. 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 earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) 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 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on PYPL shares. TD Cowen increased their target price on shares of PayPal from $58.00 to $68.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. Robert W. Baird upped their target price on PayPal from $70.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Citigroup boosted their price target on PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Stephens increased their price objective on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Finally, StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. Twenty-one equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, PayPal currently has a consensus rating of “Hold” and an average target price of $73.64.

Insider Buying and Selling

In related news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $61.65, for a total value of $272,616.30. Following the transaction, the director now directly owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by corporate insiders.

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.