Kestra Advisory Services LLC Increases Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Posted by Defense World Staff on Apr 16th, 2023

Kestra Advisory Services LLC lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,463 shares of the credit services provider’s stock after acquiring an additional 2,360 shares during the quarter. Kestra Advisory Services LLC’s holdings in PayPal were worth $8,864,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PYPL. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of PayPal by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,246,996 shares of the credit services provider’s stock worth $144,215,000 after acquiring an additional 138,875 shares in the last quarter. Dakota Wealth Management raised its position in shares of PayPal by 8.6% during the 1st quarter. Dakota Wealth Management now owns 4,894 shares of the credit services provider’s stock worth $566,000 after purchasing an additional 387 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of PayPal by 15.4% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,860 shares of the credit services provider’s stock worth $793,000 after purchasing an additional 918 shares during the last quarter. Covestor Ltd raised its position in shares of PayPal by 136.1% during the 1st quarter. Covestor Ltd now owns 1,334 shares of the credit services provider’s stock worth $154,000 after purchasing an additional 769 shares during the last quarter. Finally, Donaldson Capital Management LLC raised its position in shares of PayPal by 5.3% during the 1st quarter. Donaldson Capital Management LLC now owns 3,095 shares of the credit services provider’s stock worth $358,000 after purchasing an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PYPL. Truist Financial upgraded PayPal from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $75.00 to $95.00 in a research report on Tuesday, January 3rd. Jefferies Financial Group cut their price objective on PayPal from $90.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, January 18th. Deutsche Bank Aktiengesellschaft cut their price target on PayPal from $140.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, January 31st. Sumitomo Mitsui Financial Group downgraded PayPal from a “neutral” rating to an “underperform” rating and cut their price target for the company from $95.00 to $75.00 in a report on Wednesday, January 18th. Finally, BNP Paribas upgraded PayPal from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $108.42.

PayPal Stock Performance

NASDAQ:PYPL opened at $76.53 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a 50-day moving average of $75.38 and a two-hundred day moving average of $78.37. The stock has a market cap of $86.58 billion, a P/E ratio of 36.44, a PEG ratio of 1.13 and a beta of 1.31. PayPal Holdings, Inc. has a 1-year low of $66.39 and a 1-year high of $104.86.

PayPal (NASDAQ:PYPL – Get Rating) last posted its quarterly earnings data on Thursday, February 9th. The credit services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $7.39 billion. PayPal had a net margin of 8.79% and a return on equity of 17.48%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 EPS. On average, research analysts expect that PayPal Holdings, Inc. will post 3.83 earnings per share for the current fiscal year.

Insider Buying and Selling at PayPal

In related news, CEO Daniel H. Schulman bought 26,065 shares of the business’s stock in a transaction dated Friday, February 17th. The shares were acquired at an average price of $76.17 per share, for a total transaction of $1,985,371.05. Following the purchase, the chief executive officer now owns 395,351 shares in the company, valued at approximately $30,113,885.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by corporate insiders.

PayPal Profile

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PayPal Holdings, Inc engages in the development of technology platforms for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. It manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.