Mechanics Financial Corp Buys 275 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Mechanics Financial Corp grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.4% in the fourth quarter, Holdings Channel reports. The fund owned 4,585 shares of the credit services provider’s stock after acquiring an additional 275 shares during the quarter. Mechanics Financial Corp’s holdings in PayPal were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new stake in PayPal in the 4th quarter valued at about $9,267,000. Bartlett & Co. LLC increased its stake in shares of PayPal by 8.5% in the fourth quarter. Bartlett & Co. LLC now owns 9,414 shares of the credit services provider’s stock worth $594,000 after purchasing an additional 740 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of PayPal by 9.5% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 847,006 shares of the credit services provider’s stock valued at $53,344,000 after purchasing an additional 73,687 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of PayPal by 4.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 20,242 shares of the credit services provider’s stock valued at $1,183,000 after buying an additional 942 shares in the last quarter. Finally, Bellecapital International Ltd. boosted its holdings in PayPal by 2.0% in the 4th quarter. Bellecapital International Ltd. now owns 21,685 shares of the credit services provider’s stock worth $1,332,000 after buying an additional 433 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Insider Buying and Selling

In other news, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the transaction, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by insiders.

PayPal Trading Down 0.1 %

PYPL stock traded down $0.05 during midday trading on Thursday, hitting $66.09. The company had a trading volume of 5,417,030 shares, compared to its average volume of 16,474,621. The stock has a market cap of $69.57 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.26 and a beta of 1.41. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $76.54. The company has a current ratio of 1.28, a quick ratio of 1.29 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $63.39 and its 200 day moving average price is $60.39.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 earnings per share. As a group, equities research analysts expect that PayPal Holdings, Inc. will post 4.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Royal Bank of Canada increased their target price on PayPal from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Wednesday. BTIG Research reissued a “neutral” rating on shares of PayPal in a report on Friday, January 5th. Stephens lifted their target price on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday. JPMorgan Chase & Co. decreased their price target on PayPal from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, February 8th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $66.00 price objective (down from $118.00) on shares of PayPal in a research report on Tuesday, January 9th. Twenty-five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, PayPal currently has an average rating of “Hold” and an average target price of $72.73.

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.