C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New $289,000 Investment in PayPal Holdings, Inc. (NASDAQ:PYPL)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,313 shares of the credit services provider’s stock, valued at approximately $289,000.

A number of other large investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC lifted its holdings in shares of PayPal by 7.5% in the third quarter. Integrated Wealth Concepts LLC now owns 40,779 shares of the credit services provider’s stock worth $2,384,000 after acquiring an additional 2,862 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of PayPal by 2.6% in the third quarter. Harbour Investments Inc. now owns 13,880 shares of the credit services provider’s stock worth $811,000 after acquiring an additional 350 shares during the last quarter. Integrated Advisors Network LLC lifted its holdings in shares of PayPal by 5.7% in the third quarter. Integrated Advisors Network LLC now owns 8,289 shares of the credit services provider’s stock worth $485,000 after acquiring an additional 444 shares during the last quarter. Brown Shipley& Co Ltd lifted its holdings in shares of PayPal by 9.3% in the third quarter. Brown Shipley& Co Ltd now owns 48,453 shares of the credit services provider’s stock worth $2,833,000 after acquiring an additional 4,116 shares during the last quarter. Finally, Comerica Bank lifted its holdings in shares of PayPal by 3,715.9% in the third quarter. Comerica Bank now owns 298,782 shares of the credit services provider’s stock worth $17,467,000 after acquiring an additional 290,952 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PayPal

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the transaction, the director now owns 13,976 shares of the company’s stock, valued at $861,620.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

PayPal Stock Performance

PayPal stock traded up $1.48 during midday trading on Thursday, reaching $60.38. The stock had a trading volume of 5,162,959 shares, compared to its average volume of 14,702,791. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $63.16 billion, a PE ratio of 14.84, a P/E/G ratio of 0.97 and a beta of 1.42. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $76.54. The firm’s 50-day moving average price is $62.16 and its 200 day moving average price is $62.27.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 EPS. As a group, research analysts predict that PayPal Holdings, Inc. will post 4.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PYPL. Robert W. Baird raised their price objective on shares of PayPal from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Citigroup raised their price objective on shares of PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a report on Monday, June 10th. JMP Securities raised their price objective on shares of PayPal from $70.00 to $82.00 and gave the company a “market outperform” rating in a report on Wednesday, May 1st. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Tuesday, April 30th. Finally, Wells Fargo & Company raised their price objective on shares of PayPal from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Twenty equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $73.82.

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.