Grimes & Company Inc. Has $9.64 Million Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Grimes & Company Inc. boosted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 73.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 143,936 shares of the credit services provider’s stock after acquiring an additional 60,843 shares during the period. Grimes & Company Inc.’s holdings in PayPal were worth $9,642,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Hartford Financial Management Inc. grew its holdings in shares of PayPal by 18.8% in the 4th quarter. Hartford Financial Management Inc. now owns 1,032 shares of the credit services provider’s stock valued at $63,000 after buying an additional 163 shares during the period. Pine Haven Investment Counsel Inc grew its holdings in shares of PayPal by 3.7% in the 4th quarter. Pine Haven Investment Counsel Inc now owns 4,705 shares of the credit services provider’s stock valued at $289,000 after buying an additional 170 shares during the period. Brooks Moore & Associates Inc. grew its holdings in shares of PayPal by 1.3% in the 3rd quarter. Brooks Moore & Associates Inc. now owns 14,391 shares of the credit services provider’s stock valued at $841,000 after buying an additional 180 shares during the period. Waldron Private Wealth LLC grew its holdings in shares of PayPal by 1.9% in the 4th quarter. Waldron Private Wealth LLC now owns 9,619 shares of the credit services provider’s stock valued at $590,000 after buying an additional 182 shares during the period. Finally, Indiana Trust & Investment Management CO grew its holdings in shares of PayPal by 18.6% in the 1st quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock valued at $79,000 after buying an additional 184 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Insider Buying and Selling at PayPal

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PYPL. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. Stephens boosted their price target on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Sanford C. Bernstein boosted their price objective on shares of PayPal from $66.00 to $68.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Monness Crespi & Hardt boosted their price objective on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Finally, BMO Capital Markets boosted their price objective on shares of PayPal from $64.00 to $65.00 and gave the company a “market perform” rating in a research report on Wednesday, May 1st. Twenty-one research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal presently has a consensus rating of “Hold” and a consensus price target of $73.64.

PayPal Stock Performance

NASDAQ:PYPL traded down $0.34 during mid-day trading on Friday, hitting $58.03. The stock had a trading volume of 28,102,011 shares, compared to its average volume of 12,149,450. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $76.54. The stock has a market cap of $60.70 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.95 and a beta of 1.43. The company’s 50 day simple moving average is $63.18 and its 200 day simple moving average is $62.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results 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). The company had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 earnings per share. On average, equities research analysts forecast that PayPal Holdings, Inc. will post 4.14 earnings per share 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.