New Covenant Trust Company N.A. Acquires Shares of 958 PayPal Holdings, Inc. (NASDAQ:PYPL)

New Covenant Trust Company N.A. purchased a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 958 shares of the credit services provider’s stock, valued at approximately $64,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of PayPal in the 4th quarter worth about $25,000. Pittenger & Anderson Inc. increased its holdings in PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after buying an additional 172 shares during the last quarter. American National Bank acquired a new stake in PayPal during the first quarter valued at approximately $27,000. Private Wealth Management Group LLC bought a new position in PayPal during the 4th quarter worth approximately $29,000. Finally, Register Financial Advisors LLC acquired a new position in shares of PayPal in the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

Shares of NASDAQ PYPL traded down $0.47 during trading on Thursday, hitting $65.31. The company had a trading volume of 19,052,460 shares, compared to its average volume of 14,653,487. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $74.99. The business’s 50-day moving average is $61.01 and its 200 day moving average is $62.21. The company has a market cap of $68.32 billion, a P/E ratio of 16.45, a PEG ratio of 1.04 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.24.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same period in the previous year, the firm earned $0.83 earnings per share. PayPal’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts predict that PayPal Holdings, Inc. will post 4.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JMP Securities raised their price objective on PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $69.00 price objective on shares of PayPal in a research report on Monday, June 24th. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a report on Wednesday. Monness Crespi & Hardt upped their target price on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a report on Monday. Finally, Mizuho raised PayPal from a “neutral” rating to a “buy” rating and raised their price target for the stock from $68.00 to $90.00 in a report on Thursday, May 30th. Nineteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.94.

Insider Buying and Selling at PayPal

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of PayPal stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the transaction, the director now directly owns 13,976 shares in the company, valued at approximately $861,620.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

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.