Lord Abbett & CO. LLC Grows Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Lord Abbett & CO. LLC increased its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 10.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 759,847 shares of the credit services provider's stock after acquiring an additional 73,111 shares during the quarter. Lord Abbett & CO. LLC owned about 0.08% of PayPal worth $64,853,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Hurley Capital LLC bought a new position in shares of PayPal during the 4th quarter worth about $27,000. Rosenberg Matthew Hamilton increased its holdings in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock worth $26,000 after purchasing an additional 125 shares during the period. Sugarloaf Wealth Management LLC increased its holdings in shares of PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock worth $30,000 after purchasing an additional 272 shares during the period. Bernard Wealth Management Corp. bought a new position in shares of PayPal during the 4th quarter worth about $37,000. Finally, Modus Advisors LLC bought a new position in shares of PayPal during the 4th quarter worth about $37,000. Institutional investors own 68.32% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PYPL shares. DZ Bank raised shares of PayPal from a "hold" rating to a "buy" rating and set a $92.00 target price on the stock in a research note on Friday, February 28th. Robert W. Baird lowered their target price on shares of PayPal from $100.00 to $95.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Compass Point started coverage on shares of PayPal in a research note on Wednesday, April 23rd. They issued a "sell" rating and a $56.00 target price on the stock. Morgan Stanley upped their target price on shares of PayPal from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Finally, Evercore ISI started coverage on shares of PayPal in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $65.00 target price on the stock. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $85.88.

Insider Activity at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

PayPal Price Performance

PYPL stock traded down $0.41 during midday trading on Monday, reaching $64.93. The company had a trading volume of 14,194,203 shares, compared to its average volume of 11,457,111. The company has a market capitalization of $63.46 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The stock has a 50 day moving average price of $66.76 and a 200-day moving average price of $78.58. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26.

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

PayPal Company 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.