Scotia Capital Inc. Acquires 6,848 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Scotia Capital Inc. raised its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,613 shares of the credit services provider's stock after purchasing an additional 6,848 shares during the period. Scotia Capital Inc.'s holdings in PayPal were worth $12,257,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Rosenberg Matthew Hamilton increased its holdings in shares of PayPal by 67.6% in 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. Hurley Capital LLC bought a new position in shares of PayPal in the 4th quarter worth about $27,000. Sugarloaf Wealth Management LLC boosted its stake in PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock worth $30,000 after acquiring an additional 272 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of PayPal in the 4th quarter worth approximately $37,000. Finally, Bernard Wealth Management Corp. purchased a new position in shares of PayPal in the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 68.32% of the company's stock.

Insiders Place Their Bets

In other news, Director Gail J. Mcgovern sold 2,446 shares of the 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 completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company's stock.

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PayPal Stock Performance

PYPL remained flat at $62.27 during midday trading on Tuesday. The company's stock had a trading volume of 3,747,137 shares, compared to its average volume of 11,446,965. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm has a market cap of $61.60 billion, a PE ratio of 15.53, a P/E/G ratio of 1.27 and a beta of 1.60. The company's 50 day simple moving average is $69.54 and its 200-day simple moving average is $79.65.

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PYPL. Evercore ISI assumed coverage on PayPal in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $65.00 price target on the stock. BTIG Research reiterated a "neutral" rating on shares of PayPal in a report on Tuesday, February 4th. Morgan Stanley boosted their price target on shares of PayPal from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Robert W. Baird lowered their price objective on PayPal from $100.00 to $95.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Finally, Bank of America lowered their price target on PayPal from $103.00 to $93.00 and set a "buy" rating for the company in a research report on Monday. Sixteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PayPal presently has a consensus rating of "Moderate Buy" and an average target price of $87.03.

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.