Ontario Teachers Pension Plan Board Invests $1.26 Million in PayPal Holdings, Inc. (NASDAQ:PYPL)

Ontario Teachers Pension Plan Board acquired a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) during the 1st quarter, Holdings Channel reports. The firm acquired 18,749 shares of the credit services provider’s stock, valued at approximately $1,256,000.

Other institutional investors have also recently made changes to their positions in the company. Pittenger & Anderson Inc. lifted its stake in shares of PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in PayPal during the 4th quarter worth approximately $25,000. American National Bank bought a new stake in PayPal during the 1st quarter worth approximately $27,000. Register Financial Advisors LLC bought a new stake in PayPal during the 1st quarter worth approximately $30,000. Finally, CarsonAllaria Wealth Management Ltd. raised its position in shares of PayPal by 65.8% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after buying an additional 185 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

Insider Activity at PayPal

In related news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the completion of the transaction, the director now directly owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PYPL shares. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. The Goldman Sachs Group reissued a “neutral” rating and issued a $69.00 target price on shares of PayPal in a report on Monday, June 24th. JMP Securities raised their target price 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. New Street Research started coverage on shares of PayPal in a report on Friday, May 31st. They issued a “buy” rating and a $80.00 target price for the company. Finally, Stephens raised their target price on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Twenty-one investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $73.82.

PayPal Price Performance

NASDAQ PYPL traded down $0.21 during mid-day trading on Tuesday, hitting $60.56. The stock had a trading volume of 711,383 shares, compared to its average volume of 14,360,521. The firm’s 50 day moving average is $61.46 and its 200 day moving average is $62.23. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $76.54. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $63.35 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 0.97 and a beta of 1.42.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 21.58%. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same period in the prior year, the company posted $0.86 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.15 earnings per share for the current fiscal year.

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.