Concurrent Investment Advisors LLC Grows Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Concurrent Investment Advisors LLC raised its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 17.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,369 shares of the credit services provider’s stock after purchasing an additional 5,097 shares during the period. Concurrent Investment Advisors LLC’s holdings in PayPal were worth $2,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PYPL. Norges Bank purchased a new stake in PayPal in the 4th quarter worth about $749,561,000. The Manufacturers Life Insurance Company raised its holdings in shares of PayPal by 125.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after buying an additional 958,130 shares during the period. Boston Partners raised its holdings in shares of PayPal by 4,024.5% in the fourth quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock worth $48,099,000 after buying an additional 764,258 shares during the period. Panagora Asset Management Inc. boosted its holdings in PayPal by 1,309.2% during the 4th quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock valued at $49,168,000 after acquiring an additional 743,833 shares during the period. Finally, International Assets Investment Management LLC grew its position in PayPal by 6,724.3% in the 4th quarter. International Assets Investment Management LLC now owns 658,070 shares of the credit services provider’s stock valued at $40,412,000 after acquiring an additional 648,427 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

PayPal Trading Up 0.3 %

Shares of PayPal stock traded up $0.20 on Monday, reaching $60.47. The company had a trading volume of 9,289,256 shares, compared to its average volume of 14,661,525. 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 firm has a market cap of $63.25 billion, a PE ratio of 15.25, a PEG ratio of 0.98 and a beta of 1.42. The firm’s 50 day moving average price is $61.92 and its two-hundred day moving average price is $62.24. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $76.54.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 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 for the quarter, compared to analyst estimates of $7.52 billion. During the same quarter last year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts predict that PayPal Holdings, Inc. will post 4.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several research analyst reports. StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $84.00 price objective on shares of PayPal in a research report on Friday, June 28th. Robert W. Baird raised 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. Stephens boosted their price target on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Finally, Wells Fargo & Company raised their price objective on PayPal from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. Twenty research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, PayPal currently has a consensus rating of “Hold” and a consensus target price of $73.82.

Insiders Place Their Bets

In related news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction 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 transaction, the director now owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

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.