PayPal Holdings, Inc. Sees Strategic Investment Shifts and Analyst Ratings Update
Explore recent investment moves in PayPal Holdings, Inc., including hedge fund acquisitions and analyst ratings adjustments.
In a notable development, Sowell Financial Services LLC has acquired a significant position in PayPal Holdings, Inc. (NASDAQ:PYPL), as reported in the company's latest 13F filing with the SEC. This acquisition, involving 13,110 shares valued at approximately $855,000, marks a strategic move by the fund in the first quarter. Other institutional investors have also been busy modifying their stakes in PayPal. Notably, J. Goldman & Co LP increased its holdings by 11.9% in the fourth quarter, now owning an impressive 261,322 shares valued at $22,304,000. Similarly, Nikko Asset Management Americas Inc. raised its stake by 2.7%, owning 697,077 shares worth $59,489,000 after acquiring an additional 18,172 shares. These strategic moves highlight a growing interest in PayPal's stock among institutional investors.
Furthermore, ExodusPoint Capital Management LP made a substantial increase of 223.1% in its PayPal holdings during the fourth quarter, now owning 265,048 shares valued at $22,622,000. StoneX Group Inc. also boosted its position by 70.4%, acquiring 27,249 shares valued at $2,326,000. These investments demonstrate the confidence that institutional investors place in PayPal's future growth prospects.
Analyst ratings have seen updates as well, with a mix of positive and cautious outlooks. Bank of America recently adjusted its price target for PayPal from $103.00 to $93.00, maintaining a "buy" rating. In contrast, Seaport Res Ptn downgraded their rating to a "strong sell," indicating a more cautious stance. Wells Fargo & Company set a new price target of $74.00 with an "equal weight" rating, while Truist Financial initiated coverage with a "sell" rating and a $68.00 price target. BMO Capital Markets set a "market perform" rating, adjusting their price target from $83.00 to $79.00. Despite varied opinions, PayPal maintains a consensus "Hold" rating with an average price target of $83.29 according to MarketBeat.com.
PayPal's stock performance has seen fluctuations, with the stock opening at $68.57 recently. The company’s 52-week range spans from a low of $55.85 to a high of $93.66. With a robust quick ratio of 1.30 and a debt-to-equity ratio of 0.56, PayPal remains financially stable. Its market capitalization stands at $66.69 billion, with a PE ratio of 15.34, indicating potential for growth.
In recent insider activity, Suzan Kereere sold 4,162 shares, while Director Deborah M. Messemer sold 3,795 shares. These transactions reflect insider confidence in the company's value. PayPal continues to operate a leading digital payment platform, connecting merchants and consumers globally. To stay updated on PayPal's performance and strategic moves, visit HoldingsChannel.com for the latest 13F filings and insider trades.