Kazazian Asset Management LLC Takes $1.03 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Kazazian Asset Management LLC acquired a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 12,024 shares of the credit services provider's stock, valued at approximately $1,026,000. PayPal makes up approximately 0.8% of Kazazian Asset Management LLC's investment portfolio, making the stock its 26th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of PayPal by 86.3% in the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider's stock worth $1,307,945,000 after buying an additional 7,767,072 shares during the period. World Investment Advisors LLC bought a new position in shares of PayPal in the 3rd quarter worth approximately $387,435,000. Robeco Institutional Asset Management B.V. lifted its stake 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 worth $361,316,000 after purchasing an additional 2,689,162 shares during the period. Raymond James Financial Inc. bought a new position in shares of PayPal in the 4th quarter worth approximately $135,537,000. Finally, Primecap Management Co. CA raised its stake in PayPal by 21.6% during the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider's stock worth $469,414,000 after acquiring an additional 1,069,356 shares during the period. 68.32% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Gail J. Mcgovern sold 2,446 shares of the firm's stock in a transaction dated 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 trade represents a 7.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.14% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PYPL shares. StockNews.com upgraded shares of PayPal from a "hold" rating to a "buy" rating in a research report on Tuesday, December 24th. DZ Bank raised shares of PayPal from a "hold" rating to a "buy" rating and set a $92.00 price objective for the company in a research note on Friday, February 28th. Barclays lifted their target price on PayPal from $92.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Wolfe Research upgraded PayPal from a "peer perform" rating to an "outperform" rating and set a $107.00 price objective for the company in a report on Friday, December 13th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $100.00 price objective on shares of PayPal in a report on Thursday, December 12th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, PayPal has an average rating of "Moderate Buy" and a consensus price target of $90.03.

PayPal Price Performance

Shares of PYPL stock traded up $0.52 during trading hours on Friday, hitting $70.19. The company had a trading volume of 14,602,008 shares, compared to its average volume of 10,919,388. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66. The firm has a market capitalization of $69.43 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.27 and a beta of 1.52. The firm's fifty day moving average is $78.19 and its 200 day moving average is $80.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. The firm had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.48 EPS. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal 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.