Townsend Asset Management Corp NC ADV Increases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Townsend Asset Management Corp NC ADV increased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,334 shares of the credit services provider’s stock after buying an additional 2,925 shares during the period. PayPal comprises approximately 1.3% of Townsend Asset Management Corp NC ADV’s holdings, making the stock its 22nd biggest holding. Townsend Asset Management Corp NC ADV’s holdings in PayPal were worth $3,528,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Gordian Capital Singapore Pte Ltd bought a new position in PayPal during the 3rd quarter valued at $26,000. Rosenberg Matthew Hamilton lifted its position in shares of PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC grew its stake in PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares in the last quarter. Planning Capital Management Corp increased its holdings in PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after buying an additional 268 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in PayPal during the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

PYPL has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Robert W. Baird decreased their target price on PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $86.00 to $103.00 in a research note on Monday, December 9th. Finally, DZ Bank upgraded 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. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.03.

Insider Buying and Selling

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were 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 approximately $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.14% of the stock is owned by corporate insiders.

PayPal Stock Up 3.0 %

Shares of PYPL opened at $69.50 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $68.75 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.27 and a beta of 1.52. The firm has a fifty day moving average price of $82.48 and a 200-day moving average price of $81.09. PayPal Holdings, Inc. has a 12-month low of $56.97 and a 12-month high of $93.66.

PayPal (NASDAQ:PYPL) last posted 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. The company had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. PayPal’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.48 earnings per share. Equities research analysts expect that PayPal Holdings, Inc. will post 5.03 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.