Horizon Investments LLC Buys 1,398 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Horizon Investments LLC raised its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 24,566 shares of the credit services provider’s stock after purchasing an additional 1,398 shares during the quarter. Horizon Investments LLC’s holdings in PayPal were worth $2,097,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nikko Asset Management Americas Inc. increased its stake in PayPal by 2.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider’s stock valued at $59,489,000 after acquiring an additional 18,172 shares during the period. Flagship Wealth Advisors LLC bought a new stake in PayPal in the fourth quarter valued at about $94,000. Parallel Advisors LLC increased its stake in PayPal by 3.0% in the fourth quarter. Parallel Advisors LLC now owns 84,658 shares of the credit services provider’s stock valued at $7,226,000 after acquiring an additional 2,436 shares during the period. SouthState Corp increased its stake in PayPal by 13.0% in the fourth quarter. SouthState Corp now owns 61,843 shares of the credit services provider’s stock valued at $5,278,000 after acquiring an additional 7,093 shares during the period. Finally, IMG Wealth Management Inc. bought a new stake in PayPal in the fourth quarter valued at about $80,000. Institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Macquarie upped their target price on shares of PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Robert W. Baird reduced their price target on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Barclays boosted their price target 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. Wells Fargo & Company restated an “equal weight” rating on shares of PayPal in a research report on Wednesday, February 5th. Finally, BTIG Research restated a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and a consensus price target of $90.03.

PayPal Price Performance

Shares of PYPL opened at $68.88 on Wednesday. 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 Holdings, Inc. has a 1 year low of $56.97 and a 1 year high of $93.66. The stock has a market cap of $68.14 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The stock’s 50-day moving average price is $79.18 and its two-hundred day moving average price is $80.97.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) 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 firm had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the business earned $1.48 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. On average, equities analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the sale, the director now owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This trade 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 through this hyperlink. Company insiders own 0.14% of the company’s stock.

About PayPal

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.