PayPal (NASDAQ:PYPL) Stock Acquired Rep. Josh Gottheimer

Representative Josh Gottheimer (D-New Jersey) recently bought shares of PayPal Holdings, Inc. (NASDAQ:PYPL). In a filing disclosed on November 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in PayPal stock on October 24th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.

PayPal Stock Performance

PYPL opened at $81.35 on Friday. The firm has a market cap of $81.56 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43. The business’s fifty day moving average is $77.00 and its 200-day moving average is $68.05. PayPal Holdings, Inc. has a 52-week low of $53.55 and a 52-week high of $83.70. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS. Sell-side analysts expect that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal year.

Institutional Trading of PayPal

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC raised its holdings in PayPal by 4.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 11,471 shares of the credit services provider’s stock worth $895,000 after buying an additional 519 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in PayPal by 436.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,630 shares of the credit services provider’s stock valued at $127,000 after purchasing an additional 1,326 shares during the last quarter. OneAscent Financial Services LLC bought a new stake in PayPal during the 3rd quarter worth approximately $334,000. Pathstone Holdings LLC raised its stake in shares of PayPal by 0.8% in the third quarter. Pathstone Holdings LLC now owns 100,855 shares of the credit services provider’s stock worth $7,870,000 after purchasing an additional 767 shares during the last quarter. Finally, Aviance Capital Partners LLC bought a new position in shares of PayPal in the third quarter valued at approximately $522,000. 68.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PYPL. Royal Bank of Canada raised their target price on PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Argus raised PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Jefferies Financial Group lowered their target price on PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. TD Cowen raised their price target on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company upped their price objective on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.45.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.