PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Bought by Alterity Financial Group LLC

Alterity Financial Group LLC increased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 18.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,794 shares of the credit services provider’s stock after acquiring an additional 734 shares during the period. Alterity Financial Group LLC’s holdings in PayPal were worth $294,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in PayPal by 0.9% in the 2nd quarter. State Street Corp now owns 45,846,969 shares of the credit services provider’s stock valued at $3,059,368,000 after acquiring an additional 423,625 shares during the last quarter. Geode Capital Management LLC increased its stake in PayPal by 1.1% in the first quarter. Geode Capital Management LLC now owns 20,947,345 shares of the credit services provider’s stock valued at $1,586,966,000 after purchasing an additional 235,651 shares during the last quarter. Morgan Stanley lifted its position in PayPal by 4.5% during the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after buying an additional 873,181 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in shares of PayPal by 110,462.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock worth $1,220,431,000 after acquiring an additional 17,120,572 shares during the period. Finally, Norges Bank acquired a new position in PayPal during the fourth quarter worth approximately $1,022,333,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

NASDAQ PYPL opened at $66.99 on Friday. The company has a 50-day moving average price of $61.46 and a two-hundred day moving average price of $59.41. The stock has a market cap of $71.80 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.46. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $77.95.

PayPal (NASDAQ:PYPL) last issued its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 EPS. Analysts forecast that PayPal Holdings, Inc. will post 3.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price target on PayPal from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, February 8th. Canaccord Genuity Group reduced their price target on shares of PayPal from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Argus lowered shares of PayPal from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Wells Fargo & Company lifted their target price on shares of PayPal from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Finally, Mizuho reduced their price objective on PayPal from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. Twenty-four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $70.47.

Insiders Place Their Bets

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

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.