Ballentine Partners LLC Raises Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Ballentine Partners LLC raised its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 10.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 12,050 shares of the credit services provider’s stock after acquiring an additional 1,146 shares during the period. Ballentine Partners LLC’s holdings in PayPal were worth $807,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in PayPal during the 4th quarter valued at about $25,000. American National Bank purchased a new stake in shares of PayPal during the first quarter valued at approximately $27,000. Private Wealth Management Group LLC bought a new position in shares of PayPal in the fourth quarter worth approximately $29,000. Spartan Planning & Wealth Management increased its stake in shares of PayPal by 13,625.0% in the fourth quarter. Spartan Planning & Wealth Management now owns 549 shares of the credit services provider’s stock worth $34,000 after buying an additional 545 shares during the period. Finally, Beacon Capital Management LLC raised its holdings in PayPal by 58.6% during the 4th quarter. Beacon Capital Management LLC now owns 609 shares of the credit services provider’s stock valued at $36,000 after buying an additional 225 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Evercore ISI upped their price objective on shares of PayPal from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Wednesday, May 1st. TD Cowen increased their price objective on PayPal from $58.00 to $68.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Robert W. Baird boosted their target price on PayPal from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. BMO Capital Markets lifted their price target on shares of PayPal from $64.00 to $65.00 and gave the company a “market perform” rating in a report on Wednesday, May 1st. Finally, UBS Group lifted their price target on PayPal from $63.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Twenty-one analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.48.

PayPal Price Performance

Shares of NASDAQ:PYPL traded down $0.43 on Monday, reaching $60.18. The company’s stock had a trading volume of 942,033 shares, compared to its average volume of 14,943,814. The company has a 50-day simple moving average of $63.60 and a 200 day simple moving average of $62.46. 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 company has a market cap of $62.95 billion, a P/E ratio of 15.27, a PEG ratio of 0.98 and a beta of 1.43. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $76.54.

PayPal (NASDAQ:PYPL) last issued 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). The company had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 earnings per share. As a group, equities research analysts anticipate that PayPal Holdings, Inc. will post 4.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $61.65, for a total value of $272,616.30. Following the sale, the director now owns 13,976 shares of the company’s stock, valued at $861,620.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by insiders.

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.