Itau Unibanco Holding S.A. Purchases 70,382 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Itau Unibanco Holding S.A. increased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5,899.6% during the fourth quarter, Holdings Channel reports. The fund owned 71,575 shares of the credit services provider’s stock after purchasing an additional 70,382 shares during the period. Itau Unibanco Holding S.A.’s holdings in PayPal were worth $6,120,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Rosenberg Matthew Hamilton grew its holdings in PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 125 shares during the last quarter. Hurley Capital LLC acquired a new stake in PayPal in the fourth quarter worth about $27,000. Sugarloaf Wealth Management LLC raised its holdings in PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. Modus Advisors LLC acquired a new position in PayPal during the 4th quarter valued at about $37,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of PayPal in the 4th quarter valued at about $37,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PYPL. Canaccord Genuity Group restated a “buy” rating and issued a $96.00 price objective on shares of PayPal in a report on Wednesday. Evercore ISI assumed coverage on PayPal in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $65.00 price target on the stock. BTIG Research reiterated a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a report on Wednesday. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.72.

PayPal Stock Down 0.7 %

NASDAQ PYPL opened at $65.84 on Thursday. The company has a market cap of $64.35 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 1.27 and a beta of 1.60. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $66.08 and a 200-day moving average of $78.30.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.17. The firm had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. On average, equities research analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insider Transactions at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the sale, the director now owns 29,734 shares of the company’s stock, valued at $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.

PayPal 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.