Grimes & Company Inc. Purchases 60,843 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Grimes & Company Inc. increased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 73.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 143,936 shares of the credit services provider’s stock after acquiring an additional 60,843 shares during the period. Grimes & Company Inc.’s holdings in PayPal were worth $9,642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PYPL. Sapient Capital LLC bought a new position in shares of PayPal in the 4th quarter worth $806,000. Louisiana State Employees Retirement System purchased a new stake in shares of PayPal in the 4th quarter worth about $9,267,000. Bartlett & Co. LLC increased its stake in shares of PayPal by 8.5% in the 4th quarter. Bartlett & Co. LLC now owns 9,414 shares of the credit services provider’s stock worth $594,000 after acquiring an additional 740 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of PayPal by 9.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 847,006 shares of the credit services provider’s stock worth $53,344,000 after acquiring an additional 73,687 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its stake in shares of PayPal by 4.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 20,242 shares of the credit services provider’s stock worth $1,183,000 after acquiring an additional 942 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

PYPL traded down $0.34 during trading hours on Friday, hitting $58.03. The company’s stock had a trading volume of 28,102,011 shares, compared to its average volume of 12,149,450. The business’s 50-day moving average price is $63.18 and its 200-day moving average price is $62.43. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $76.54. The stock has a market cap of $60.70 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 0.95 and a beta of 1.43. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the prior year, the firm posted $0.86 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts expect that PayPal Holdings, Inc. will post 4.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the transaction, the director now owns 13,976 shares in the company, valued at $861,620.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PYPL has been the subject of several research reports. Robert W. Baird increased their price target on shares of PayPal from $70.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Citigroup raised their price target on shares of PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a report on Monday, June 10th. UBS Group raised their price objective on shares of PayPal from $63.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $78.00 price objective on shares of PayPal in a report on Thursday, June 13th. Finally, JMP Securities raised their price objective on shares of PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 1st. Twenty-one research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $73.64.

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.