Legal & General Group Plc increased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,282,539 shares of the credit services provider’s stock after acquiring an additional 408,663 shares during the quarter. PayPal comprises about 0.7% of Legal & General Group Plc’s investment portfolio, making the stock its 16th biggest position. Legal & General Group Plc’s holdings in PayPal were worth $2,122,713,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Permanens Capital L.P. bought a new position in PayPal in the 1st quarter worth $27,000. Sawyer & Company Inc increased its holdings in shares of PayPal by 566.7% during the 2nd quarter. Sawyer & Company Inc now owns 100 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 85 shares during the period. JTC Employer Solutions Trusteee Ltd bought a new position in shares of PayPal during the 2nd quarter worth about $38,000. Rocky Mountain Advisers LLC boosted its position in shares of PayPal by 218.4% during the 2nd quarter. Rocky Mountain Advisers LLC now owns 156 shares of the credit services provider’s stock valued at $45,000 after acquiring an additional 107 shares in the last quarter. Finally, Baldrige Asset Management LLC acquired a new stake in shares of PayPal during the 2nd quarter valued at about $47,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.
PYPL stock traded down $9.19 during mid-day trading on Tuesday, hitting $264.20. The stock had a trading volume of 208,696 shares, compared to its average volume of 7,464,383. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.43. PayPal Holdings, Inc. has a 52 week low of $174.81 and a 52 week high of $310.16. The firm has a market capitalization of $310.44 billion, a P/E ratio of 64.93, a P/E/G ratio of 3.75 and a beta of 1.15. The firm has a fifty day simple moving average of $282.21 and a 200 day simple moving average of $271.11.
In related news, EVP Mark Britto sold 9,000 shares of PayPal stock in a transaction that occurred on Friday, July 30th. The shares were sold at an average price of $279.15, for a total transaction of $2,512,350.00. Following the sale, the executive vice president now directly owns 122,583 shares in the company, valued at approximately $34,219,044.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jonathan Auerbach sold 12,314 shares of PayPal stock in a transaction that occurred on Tuesday, August 24th. The stock was sold at an average price of $278.64, for a total transaction of $3,431,172.96. Following the sale, the executive vice president now owns 80,922 shares in the company, valued at $22,548,106.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,314 shares of company stock worth $11,463,923. 0.10% of the stock is currently owned by corporate insiders.
A number of equities analysts have commented on the stock. Piper Sandler boosted their price target on shares of PayPal from $300.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, July 29th. Evercore ISI boosted their price target on shares of PayPal from $313.00 to $370.00 and gave the stock an “outperform” rating in a research note on Friday, July 9th. Barclays boosted their price target on shares of PayPal from $318.00 to $343.00 and gave the stock an “overweight” rating in a research note on Thursday, July 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $360.00 target price (up previously from $310.00) on shares of PayPal in a research note on Thursday, July 8th. Finally, Wolfe Research reaffirmed a “buy” rating and issued a $360.00 target price on shares of PayPal in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and thirty-four have given a buy rating to the stock. Based on data from MarketBeat.com, PayPal currently has a consensus rating of “Buy” and a consensus target price of $318.92.
PayPal Holdings, Inc engages in the development of technology platform for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The firm manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.
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