Tanager Wealth Management LLP Invests $429,000 in PayPal Holdings, Inc. (NASDAQ:PYPL)

Tanager Wealth Management LLP acquired a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the fourth quarter, HoldingsChannel reports. The firm acquired 6,986 shares of the credit services provider’s stock, valued at approximately $429,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PYPL. VitalStone Financial LLC raised its stake in PayPal by 4,514.3% in the 1st quarter. VitalStone Financial LLC now owns 323 shares of the credit services provider’s stock valued at $75,000 after acquiring an additional 316 shares during the period. SkyView Investment Advisors LLC raised its stake in PayPal by 146.5% in the 2nd quarter. SkyView Investment Advisors LLC now owns 382 shares of the credit services provider’s stock valued at $73,000 after acquiring an additional 227 shares during the period. PCA Investment Advisory Services Inc. bought a new stake in PayPal in the 2nd quarter valued at $27,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in PayPal in the 4th quarter valued at $25,000. Finally, Resurgent Financial Advisors LLC bought a new stake in PayPal in the 4th quarter valued at $29,000. Institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

NASDAQ:PYPL traded up $0.21 during trading hours on Friday, hitting $62.31. The company’s stock had a trading volume of 13,170,484 shares, compared to its average volume of 16,580,498. The stock has a fifty day simple moving average of $62.27 and a 200-day simple moving average of $59.90. The company has a market capitalization of $65.59 billion, a P/E ratio of 16.20, a PEG ratio of 1.44 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $76.54.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.12. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period last year, the firm posted $1.01 earnings per share. PayPal’s revenue was up 8.7% compared to the same quarter last year. On average, analysts anticipate that PayPal Holdings, Inc. will post 3.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other PayPal news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the sale, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PYPL. Wedbush restated an “outperform” rating and issued a $85.00 price target on shares of PayPal in a research note on Thursday, February 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $74.00 price objective on shares of PayPal in a research report on Thursday, March 21st. Susquehanna increased their price objective on PayPal from $61.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Mizuho lowered their price objective on PayPal from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, February 8th. Finally, Argus cut PayPal from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Twenty-three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, PayPal currently has an average rating of “Hold” and an average target price of $70.47.

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.