Abacus FCF Advisors LLC Makes New $7.67 Million Investment in PayPal Holdings, Inc. (NASDAQ:PYPL)

Abacus FCF Advisors LLC bought a new position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 89,915 shares of the credit services provider's stock, valued at approximately $7,674,000. PayPal comprises about 1.0% of Abacus FCF Advisors LLC's investment portfolio, making the stock its 28th biggest holding.

A number of other hedge funds also recently made changes to their positions in PYPL. Hurley Capital LLC purchased a new stake in PayPal during the fourth quarter valued at approximately $27,000. Rosenberg Matthew Hamilton boosted its stake in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock worth $26,000 after buying an additional 125 shares during the period. Gordian Capital Singapore Pte Ltd bought a new position in PayPal during the third quarter valued at $26,000. Sugarloaf Wealth Management LLC raised its stake in shares of PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock valued at $30,000 after acquiring an additional 272 shares during the period. Finally, Modus Advisors LLC bought a new stake in shares of PayPal in the 4th quarter worth about $37,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Performance

PYPL traded up $2.03 on Friday, reaching $62.59. The stock had a trading volume of 12,914,497 shares, compared to its average volume of 11,480,378. The business's 50-day moving average price is $69.88 and its two-hundred day moving average price is $79.77. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66. The company has a market cap of $61.92 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.08. The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. PayPal's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.48 EPS. Sell-side analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on PYPL shares. Needham & Company LLC restated a "hold" rating on shares of PayPal in a research report on Wednesday, February 26th. Citigroup reiterated an "outperform" rating on shares of PayPal in a report on Wednesday, February 5th. Barclays lifted their price objective on PayPal from $92.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. BTIG Research reiterated a "neutral" rating on shares of PayPal in a report on Tuesday, February 4th. Finally, Piper Sandler cut their price objective on shares of PayPal from $85.00 to $76.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $88.32.

Insider Activity at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by corporate insiders.

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.