Choate Investment Advisors Raises Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Choate Investment Advisors increased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 12.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,169 shares of the credit services provider’s stock after purchasing an additional 569 shares during the period. Choate Investment Advisors’ holdings in PayPal were worth $441,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PYPL. Gordian Capital Singapore Pte Ltd purchased a new stake in PayPal during the 3rd quarter worth about $26,000. Rosenberg Matthew Hamilton increased its stake in PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC increased its stake in PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 272 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in PayPal in the 3rd quarter worth about $36,000. Finally, Modus Advisors LLC bought a new position in PayPal in the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PYPL shares. Piper Sandler decreased their target price on PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and upped their target price for the stock from $86.00 to $103.00 in a research note on Monday, December 9th. Robert W. Baird decreased their target price on PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price objective on shares of PayPal in a research report on Thursday, December 12th. Finally, Barclays increased their price objective on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Fourteen 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 data from MarketBeat, PayPal has a consensus rating of “Moderate Buy” and a consensus price target of $90.03.

PayPal Trading Up 1.0 %

NASDAQ PYPL opened at $69.65 on Tuesday. PayPal Holdings, Inc. has a fifty-two week low of $56.97 and a fifty-two week high of $93.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a 50 day simple moving average of $79.56 and a two-hundred day simple moving average of $80.99. The stock has a market cap of $68.90 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52.

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

Insider Activity

In other news, Director Gail J. Mcgovern sold 2,446 shares of the firm’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 transaction, the director now owns 29,734 shares in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by company 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.