PayPal Holdings, Inc. (NASDAQ:PYPL) is Black Creek Investment Management Inc.'s 3rd Largest Position

Black Creek Investment Management Inc. decreased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 32.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,777,205 shares of the credit services provider's stock after selling 1,311,621 shares during the quarter. PayPal makes up 11.2% of Black Creek Investment Management Inc.'s portfolio, making the stock its 3rd biggest holding. Black Creek Investment Management Inc. owned 0.28% of PayPal worth $237,034,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in PayPal during the fourth quarter valued at about $1,086,508,000. Artisan Partners Limited Partnership raised its stake 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 valued at $666,100,000 after purchasing an additional 5,772,198 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in 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 in the last quarter. FMR LLC lifted its holdings in PayPal by 12.9% in the 4th 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. Finally, Raymond James Financial Inc. bought a new position in PayPal in the 4th quarter worth approximately $135,537,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

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PayPal Stock Down 2.8 %

Shares of NASDAQ PYPL traded down $1.76 during midday trading on Wednesday, reaching $60.24. 9,830,885 shares of the company's stock traded hands, compared to its average volume of 11,462,695. The company has a market cap of $59.59 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 1.27 and a beta of 1.60. The stock's 50 day simple moving average is $69.21 and its 200-day simple moving average is $79.53. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a one year low of $55.85 and a one year high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. The business had revenue of $8.37 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.48 EPS. On average, analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. DZ Bank upgraded shares of PayPal from a "hold" rating to a "buy" rating and set a $92.00 target price for the company in a research report on Friday, February 28th. Wells Fargo & Company cut their price objective on PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a research report on Wednesday. Monness Crespi & Hardt decreased their target price on PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Macquarie lifted their price objective on PayPal from $115.00 to $117.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating on shares of PayPal in a research note on Tuesday, February 4th. Sixteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, PayPal has an average rating of "Moderate Buy" and a consensus target price of $86.84.

Insider Buying and Selling at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the firm's stock in a transaction that occurred 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 $2,145,308.10. This trade 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 is available at the SEC website. 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.