Abacus FCF Advisors LLC Buys New Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)
Abacus FCF Advisors LLC has acquired a new position in PayPal Holdings, Inc. (NASDAQ:PYPL), purchasing 89,915 shares valued at approximately $7.67 million, making it the 28th largest position in their portfolio. Other institutional investors have also adjusted their holdings in PayPal. The stock has seen a slight increase of 0.3% recently, with a market cap of $57.90 billion and a P/E ratio of 14.60. Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy."
Abacus FCF Advisors LLC purchased a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 89,915 shares of the credit services provider's stock, valued at approximately $7,674,000. PayPal comprises about 1.0% of Abacus FCF Advisors LLC's portfolio, making the stock its 28th biggest position.
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Several other hedge funds and other institutional investors have also modified their holdings of PYPL. Gordian Capital Singapore Pte Ltd acquired a new position in shares of PayPal during the third quarter worth about $26,000. Rosenberg Matthew Hamilton grew its position in PayPal by 67.6% in the fourth 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 in the last quarter. Hurley Capital LLC acquired a new position in shares of PayPal during the fourth quarter worth $27,000. Sugarloaf Wealth Management LLC boosted its stake in shares of PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock valued at $30,000 after purchasing an additional 272 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new stake in PayPal during the 3rd quarter worth $36,000. 68.32% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now directly owns 29,734 shares of the company's stock, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company's stock.
PayPal Stock Up 0.3 %
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PYPL opened at $58.53 on Tuesday. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66. The business has a 50 day moving average of $73.01 and a 200-day moving average of $80.50. The stock has a market capitalization of $57.90 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 1.27 and a beta of 1.60. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48.
PayPal (NASDAQ:PYPL - Get Free Report) last released its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the business earned $1.48 earnings per share. The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.
Wall Street Analyst Weigh In
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PYPL has been the subject of a number of analyst reports. DZ Bank raised PayPal from a "hold" rating to a "buy" rating and set a $92.00 price target for the company in a report on Friday, February 28th. BTIG Research reissued a "neutral" rating on shares of PayPal in a research report on Tuesday, February 4th. Royal Bank of Canada reissued an "outperform" rating and issued a $100.00 price objective on shares of PayPal in a report on Thursday, December 12th. Piper Sandler reduced their price objective on PayPal from $85.00 to $76.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Finally, Robert W. Baird lowered their target price on shares of PayPal from $100.00 to $95.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Fifteen 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 stock has a consensus rating of "Moderate Buy" and a consensus price target of $89.13.
View Our Latest Stock Analysis on PYPL
PayPal 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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