Veracity Capital LLC Acquires 4,800 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Veracity Capital LLC increased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 123.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 8,698 shares of the credit services provider’s stock after buying an additional 4,800 shares during the quarter. Veracity Capital LLC’s holdings in PayPal were worth $583,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC raised its position in PayPal by 1,234.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 124,468 shares of the credit services provider’s stock worth $7,276,000 after purchasing an additional 115,144 shares during the period. Lazard Asset Management LLC grew its stake in PayPal by 374.6% in the 3rd quarter. Lazard Asset Management LLC now owns 250,252 shares of the credit services provider’s stock worth $14,629,000 after acquiring an additional 197,528 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in PayPal by 232.1% in the 3rd quarter. Axxcess Wealth Management LLC now owns 15,263 shares of the credit services provider’s stock worth $892,000 after acquiring an additional 10,667 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of PayPal by 23.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,091,775 shares of the credit services provider’s stock valued at $63,825,000 after purchasing an additional 205,100 shares in the last quarter. Finally, Eubel Brady & Suttman Asset Management Inc. increased its holdings in PayPal by 25.6% during the third quarter. Eubel Brady & Suttman Asset Management Inc. now owns 320,873 shares of the credit services provider’s stock valued at $18,758,000 after buying an additional 65,413 shares during the period. Institutional investors own 68.32% of the company’s stock.

Insider Transactions at PayPal

In related news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the completion of the sale, the director now owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PYPL shares. Stephens lifted their price objective on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Tuesday, April 30th. Evercore ISI lifted their price objective on shares of PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $78.00 price objective on shares of PayPal in a report on Thursday, June 13th. Finally, Monness Crespi & Hardt lifted their price objective on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a report on Monday, April 29th. Twenty analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, PayPal currently has an average rating of “Hold” and a consensus target price of $73.82.

PayPal Price Performance

Shares of PYPL stock traded up $0.67 on Thursday, reaching $59.64. 6,908,317 shares of the company were exchanged, compared to its average volume of 13,210,254. The company has a market cap of $62.39 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 0.96 and a beta of 1.42. The business has a 50-day moving average price of $62.86 and a 200 day moving average price of $62.37. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $76.54.

PayPal (NASDAQ:PYPL) last released its 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 company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.14 earnings per share for the current fiscal 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.