PayPal Holdings, Inc. (NASDAQ:PYPL) Stock Holdings Lowered by Investment Management Corp of Ontario

Investment Management Corp of Ontario cut its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,267 shares of the credit services provider’s stock after selling 302 shares during the quarter. Investment Management Corp of Ontario’s holdings in PayPal were worth $4,034,000 at the end of the most recent quarter.

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

PayPal Price Performance

PYPL opened at $70.26 on Friday. The stock has a fifty day moving average price of $65.65 and a 200 day moving average price of $77.70. 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 Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The stock has a market cap of $68.33 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.27 and a beta of 1.51.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, topping 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 firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.08 earnings per share. Analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Transactions at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company’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 completion of the sale, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PYPL has been the topic of several research analyst reports. DZ Bank raised shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. restated an “overweight” rating on shares of PayPal in a research report on Tuesday, February 4th. BTIG Research reiterated a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Piper Sandler cut their price objective on PayPal from $76.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Finally, Robert W. Baird lifted their target price on PayPal from $78.00 to $79.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.68.

PayPal Company 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.