Scotia Capital Inc. Boosts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

by · The Markets Daily

Scotia Capital Inc. raised its position in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,613 shares of the credit services provider’s stock after purchasing an additional 6,848 shares during the quarter. Scotia Capital Inc.’s holdings in PayPal were worth $12,257,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hurley Capital LLC acquired a new position in PayPal during the fourth quarter valued at approximately $27,000. Rosenberg Matthew Hamilton raised its stake in shares of PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 125 shares during the period. Sugarloaf Wealth Management LLC lifted its holdings in shares of PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after acquiring an additional 272 shares in the last quarter. Bernard Wealth Management Corp. purchased a new stake in PayPal during the 4th quarter worth $37,000. Finally, Modus Advisors LLC acquired a new stake in PayPal in the 4th quarter valued at $37,000. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Stock Performance

PYPL stock opened at $60.56 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The stock’s fifty day moving average is $70.19 and its two-hundred day moving average is $79.87. The stock has a market capitalization of $59.91 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.27 and a beta of 1.60.

PayPal (NASDAQ:PYPL – Get Free Report) last posted its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same period last year, the firm earned $1.48 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, research analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of recent research reports. Arete Research set a $81.00 price objective on PayPal in a research note on Thursday, March 27th. Wolfe Research raised PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a research report on Friday, December 13th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of PayPal in a research report on Wednesday, February 5th. Monness Crespi & Hardt reduced their target price on shares of PayPal from $120.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, DZ Bank upgraded shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Friday, February 28th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.32.

View Our Latest Stock Analysis on PayPal

Insider Activity at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

PayPal Company Profile

(Free Report)

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.

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