Sawgrass Asset Management LLC Boosts Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Sawgrass Asset Management LLC lifted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 36.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 234,578 shares of the credit services provider’s stock after acquiring an additional 62,886 shares during the period. PayPal makes up 1.6% of Sawgrass Asset Management LLC’s portfolio, making the stock its 16th biggest position. Sawgrass Asset Management LLC’s holdings in PayPal were worth $14,405,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hartford Financial Management Inc. boosted its stake in PayPal by 18.8% during the 4th quarter. Hartford Financial Management Inc. now owns 1,032 shares of the credit services provider’s stock valued at $63,000 after acquiring an additional 163 shares during the last quarter. Pine Haven Investment Counsel Inc raised its stake in PayPal by 3.7% during the fourth 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 in the last quarter. Brooks Moore & Associates Inc. lifted its holdings in 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 buying an additional 180 shares during the last quarter. Waldron Private Wealth LLC increased 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 acquiring an additional 182 shares during the last quarter. Finally, New World Advisors LLC lifted its stake in PayPal by 2.9% during the fourth quarter. New World Advisors LLC now owns 6,586 shares of the credit services provider’s stock worth $404,000 after purchasing an additional 185 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PYPL shares. Mizuho raised their price target on shares of PayPal from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Wedbush restated an “outperform” rating and set a $85.00 price objective on shares of PayPal in a research report on Thursday, February 8th. Canaccord Genuity Group cut their target price on PayPal from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. DZ Bank lowered shares of PayPal from a “buy” rating to a “hold” rating and set a $60.00 price target for the company. in a research report on Friday, February 9th. Finally, Susquehanna boosted their target price on shares of PayPal from $61.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Twenty-five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, PayPal currently has an average rating of “Hold” and a consensus target price of $72.73.

Insider Activity

In other PayPal news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the sale, the senior vice president now directly owns 23,430 shares in the company, valued at approximately $1,420,795.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by company insiders.

PayPal Stock Performance

PYPL stock traded down $2.11 during midday trading on Wednesday, hitting $63.81. 11,175,602 shares of the company traded hands, compared to its average volume of 16,367,253. The business has a 50 day simple moving average of $63.93 and a 200-day simple moving average of $60.72. 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 Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $76.54. The stock has a market capitalization of $66.75 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.18 and a beta of 1.41.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. As a group, equities research analysts predict that PayPal Holdings, Inc. will post 4.13 earnings per share for the current year.

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.