Parsons Capital Management Inc. RI Has $488,000 Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Parsons Capital Management Inc. RI lessened its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 7,283 shares of the credit services provider’s stock after selling 657 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in PayPal were worth $488,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Waycross Investment Management Co bought a new stake in PayPal during the first quarter worth $890,000. Everpar Advisors LLC bought a new stake in PayPal during the first quarter worth $263,000. Horizon Bancorp Inc. IN bought a new stake in PayPal during the first quarter worth $71,000. Teamwork Financial Advisors LLC raised its position in PayPal by 7.6% during the first quarter. Teamwork Financial Advisors LLC now owns 11,922 shares of the credit services provider’s stock worth $799,000 after acquiring an additional 847 shares in the last quarter. Finally, Veracity Capital LLC raised its position in PayPal by 123.1% during the first quarter. Veracity Capital LLC now owns 8,698 shares of the credit services provider’s stock worth $583,000 after acquiring an additional 4,800 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $66.00 price target (down from $118.00) on shares of PayPal in a research report on Tuesday, January 9th. Wells Fargo & Company increased their price objective on shares of PayPal from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. JMP Securities increased their price objective on shares of PayPal from $68.00 to $70.00 and gave the company a “market outperform” rating in a research report on Wednesday, April 17th. Sanford C. Bernstein increased their price objective on shares of PayPal from $66.00 to $68.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Finally, Oppenheimer reissued a “market perform” rating on shares of PayPal in a research report on Thursday, January 25th. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $70.47.

Insider Activity at PayPal

In related news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the transaction, the senior vice president now owns 23,430 shares in the company, valued at approximately $1,420,795.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.14% of the stock is owned by company insiders.

PayPal Price Performance

Shares of PYPL traded up $1.86 during mid-day trading on Friday, reaching $65.96. The company had a trading volume of 14,190,444 shares, compared to its average volume of 9,031,016. The company’s 50 day simple moving average is $62.87 and its 200 day simple moving average is $60.19. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $76.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $69.43 billion, a price-to-earnings ratio of 17.18, a P/E/G ratio of 1.23 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same period last year, the company posted $1.01 EPS. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts expect that PayPal Holdings, Inc. will post 4.02 EPS 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.