Focus Partners Wealth Increases Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Focus Partners Wealth grew its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 241.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 291,113 shares of the credit services provider’s stock after buying an additional 205,762 shares during the period. Focus Partners Wealth’s holdings in PayPal were worth $24,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of PYPL. Norges Bank purchased a new stake in PayPal during the 4th quarter worth about $1,086,508,000. Capital Research Global Investors lifted its holdings in PayPal by 108.2% during the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock worth $1,529,823,000 after buying an additional 9,313,783 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in PayPal by 284.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock worth $666,100,000 after buying an additional 5,772,198 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in PayPal by 174.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after buying an additional 2,689,162 shares during the last quarter. Finally, FMR LLC increased its position in shares of PayPal by 12.9% during the fourth quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock worth $1,615,134,000 after purchasing an additional 2,161,582 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Piper Sandler cut their target price on PayPal from $76.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Citigroup cut their target price on PayPal from $98.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. BMO Capital Markets cut their target price on PayPal from $83.00 to $79.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 30th. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of PayPal in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.68.

PayPal Price Performance

Shares of PYPL opened at $70.26 on Monday. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66. The stock’s 50 day moving average is $65.65 and its two-hundred day moving average is $77.67. The firm has a market capitalization of $68.33 billion, a PE ratio of 17.52, a P/E/G ratio of 1.27 and a beta of 1.51. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data 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 company had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 EPS. Research analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Insider Transactions at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.