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

Veracity Capital LLC lifted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 123.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,698 shares of the credit services provider’s stock after acquiring an additional 4,800 shares during the quarter. Veracity Capital LLC’s holdings in PayPal were worth $583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tran Capital Management L.P. lifted its holdings in PayPal by 1.1% during the 1st quarter. Tran Capital Management L.P. now owns 572,013 shares of the credit services provider’s stock worth $38,319,000 after purchasing an additional 6,140 shares during the last quarter. Tempus Wealth Planning LLC lifted its holdings in PayPal by 73.1% during the 1st quarter. Tempus Wealth Planning LLC now owns 11,354 shares of the credit services provider’s stock worth $761,000 after purchasing an additional 4,795 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in PayPal by 23.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 23,463 shares of the credit services provider’s stock worth $1,572,000 after purchasing an additional 4,434 shares during the last quarter. Kovack Advisors Inc. lifted its holdings in PayPal by 10.2% during the 1st quarter. Kovack Advisors Inc. now owns 40,615 shares of the credit services provider’s stock worth $2,721,000 after purchasing an additional 3,744 shares during the last quarter. Finally, Fluent Financial LLC acquired a new stake in PayPal during the 1st quarter worth approximately $459,000. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PYPL shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $78.00 price objective on shares of PayPal in a report on Thursday, June 13th. Robert W. Baird lifted their price objective on PayPal from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $84.00 price objective on shares of PayPal in a report on Friday, June 28th. UBS Group lifted their price objective on PayPal from $63.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, BMO Capital Markets lifted their price target on PayPal from $64.00 to $65.00 and gave the company a “market perform” rating in a research note on Wednesday, May 1st. Twenty analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.82.

Insider Transactions at PayPal

In other news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the completion of the sale, the director now directly owns 13,976 shares of the company’s stock, valued at $861,620.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

PayPal Stock Up 1.1 %

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

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period last year, the company posted $0.86 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, research analysts forecast that PayPal Holdings, Inc. will post 4.14 EPS for the current year.

PayPal 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.