Allstate Corp Acquires Shares of 28,822 PayPal Holdings, Inc. (NASDAQ:PYPL)

Allstate Corp acquired a new position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,822 shares of the credit services provider's stock, valued at approximately $2,460,000.

Several other large investors have also added to or reduced their stakes in PYPL. Gordian Capital Singapore Pte Ltd acquired a new position in shares of PayPal in the third quarter valued at $26,000. Rosenberg Matthew Hamilton grew its stake in PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock valued at $26,000 after buying an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC raised its holdings in PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock valued at $30,000 after acquiring an additional 272 shares during the period. Legacy Investment Solutions LLC acquired a new stake in PayPal during the third quarter worth approximately $36,000. Finally, Modus Advisors LLC acquired a new stake in PayPal during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 68.32% of the company's stock.

Insider Transactions at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction on 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 of the company's stock, valued at $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company's stock.

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PayPal Trading Up 0.2 %

Shares of PayPal stock traded up $0.10 during midday trading on Monday, reaching $65.25. The company had a trading volume of 11,545,416 shares, compared to its average volume of 11,226,550. The firm has a market cap of $64.55 billion, a PE ratio of 16.27, a P/E/G ratio of 1.27 and a beta of 1.52. The stock has a fifty day moving average price of $76.28 and a 200 day moving average price of $80.90. 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 Holdings, Inc. has a fifty-two week low of $56.97 and a fifty-two week high of $93.66.

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

Analyst Ratings Changes

PYPL has been the subject of several recent research reports. Barclays boosted their price target on PayPal from $92.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Wells Fargo & Company reissued an "equal weight" rating on shares of PayPal in a research report on Wednesday, February 5th. Susquehanna raised their price target on shares of PayPal from $94.00 to $101.00 and gave the stock a "positive" rating in a research report on Monday, January 6th. Citigroup reissued an "outperform" rating on shares of PayPal in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of PayPal in a report on Tuesday, February 4th. Sixteen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $89.40.

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.