Contrarius Group Holdings Ltd Invests $81.34 Million in PayPal Holdings, Inc. (NASDAQ:PYPL)

Contrarius Group Holdings Ltd bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 953,036 shares of the credit services provider's stock, valued at approximately $81,342,000. PayPal accounts for about 5.0% of Contrarius Group Holdings Ltd's investment portfolio, making the stock its 7th largest holding. Contrarius Group Holdings Ltd owned approximately 0.10% of PayPal at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rosenberg Matthew Hamilton boosted its position in PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock worth $26,000 after acquiring an additional 125 shares during the period. Gordian Capital Singapore Pte Ltd purchased a new stake in PayPal in the 3rd quarter worth approximately $26,000. Sugarloaf Wealth Management LLC boosted its stake in shares of PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock valued at $30,000 after buying an additional 272 shares during the period. Modus Advisors LLC purchased a new position in shares of PayPal during the 4th quarter valued at $37,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of PayPal in the third quarter worth $36,000. Institutional investors and hedge funds own 68.32% of the company's stock.

Insider Transactions at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the transaction, the director now directly owns 29,734 shares of the company's stock, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

A number of brokerages have commented on PYPL. Piper Sandler lowered their target price on PayPal from $85.00 to $76.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Susquehanna boosted their price target on PayPal from $94.00 to $101.00 and gave the company a "positive" rating in a research note on Monday, January 6th. Macquarie raised their price objective on shares of PayPal from $115.00 to $117.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. Robert W. Baird decreased their target price on shares of PayPal from $100.00 to $95.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. Finally, Citigroup restated an "outperform" rating on shares of PayPal in a report on Wednesday, February 5th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, PayPal presently has an average rating of "Moderate Buy" and an average target price of $90.03.

PayPal Stock Performance

PayPal stock traded up $0.52 during trading hours on Friday, hitting $70.19. The stock had a trading volume of 14,602,008 shares, compared to its average volume of 10,922,245. The company has a 50-day moving average of $78.19 and a two-hundred day moving average of $80.86. 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 fifty-two week low of $56.97 and a fifty-two week high of $93.66. The company has a market cap of $69.43 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its earnings results 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. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the company posted $1.48 earnings per share. PayPal's revenue was up 4.2% on a year-over-year basis. On average, equities research analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

PayPal 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.