Twinbeech Capital LP Invests $7.54 Million in PayPal Holdings, Inc. (NASDAQ:PYPL)

Twinbeech Capital LP acquired a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 88,391 shares of the credit services provider’s stock, valued at approximately $7,544,000.

Several other institutional investors have also modified their holdings of PYPL. Norges Bank purchased a new stake in shares of PayPal during the 4th quarter worth approximately $1,086,508,000. Capital Research Global Investors increased its holdings in shares of PayPal by 108.2% in the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock valued at $1,529,823,000 after acquiring an additional 9,313,783 shares during the period. Artisan Partners Limited Partnership increased its holdings in shares of PayPal by 284.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock valued at $666,100,000 after acquiring an additional 5,772,198 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of PayPal by 174.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after acquiring an additional 2,689,162 shares during the period. Finally, FMR LLC increased its holdings in shares of PayPal by 12.9% in the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock valued at $1,615,134,000 after acquiring an additional 2,161,582 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PYPL. UBS Group cut their target price on shares of PayPal from $88.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. Bank of America dropped their price objective on shares of PayPal from $103.00 to $93.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Macquarie dropped their price objective on shares of PayPal from $117.00 to $95.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Finally, Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research note on Wednesday, April 30th. 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, the company has an average rating of “Moderate Buy” and an average price target of $83.68.

Insider Transactions at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This represents a 7.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.14% of the company’s stock.

PayPal Price Performance

PayPal stock opened at $72.32 on Tuesday. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66. The stock has a market capitalization of $70.33 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.27 and a beta of 1.51. The firm’s 50-day moving average is $66.06 and its two-hundred day moving average is $77.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.17. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company had revenue of $7.79 billion for the quarter, compared to analysts’ expectations of $7.84 billion. During the same period last year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

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.