iA Global Asset Management Inc. Has $14.73 Million Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

iA Global Asset Management Inc. increased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 55.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 172,527 shares of the credit services provider's stock after purchasing an additional 61,736 shares during the quarter. iA Global Asset Management Inc.'s holdings in PayPal were worth $14,725,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. United Bank lifted its position in PayPal by 9.7% during the 3rd quarter. United Bank now owns 8,941 shares of the credit services provider's stock worth $698,000 after acquiring an additional 794 shares during the last quarter. AMG National Trust Bank increased its stake in shares of PayPal by 84.0% in the third quarter. AMG National Trust Bank now owns 6,620 shares of the credit services provider's stock worth $517,000 after purchasing an additional 3,023 shares during the period. Aviance Capital Partners LLC acquired a new position in shares of PayPal during the 3rd quarter worth about $522,000. Pathstone Holdings LLC boosted its stake in PayPal by 0.8% during the 3rd quarter. Pathstone Holdings LLC now owns 100,855 shares of the credit services provider's stock valued at $7,870,000 after purchasing an additional 767 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in PayPal by 436.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,630 shares of the credit services provider's stock valued at $127,000 after buying an additional 1,326 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PYPL shares. StockNews.com raised PayPal from a "hold" rating to a "buy" rating in a research report on Tuesday, December 24th. Barclays increased their price target on shares of PayPal from $92.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Citigroup restated an "outperform" rating on shares of PayPal in a report on Wednesday, February 5th. Wells Fargo & Company restated an "equal weight" rating on shares of PayPal in a research note on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of PayPal from $92.00 to $104.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Fourteen 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 stock. According to data from MarketBeat, PayPal currently has an average rating of "Moderate Buy" and an average price target of $90.03.

Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company's stock in a transaction dated 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 sale, the director now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.14% of the stock is currently owned by company insiders.

PayPal Price Performance

Shares of PayPal stock traded up $0.52 during midday trading on Friday, reaching $70.19. The company had a trading volume of 14,602,008 shares, compared to its average volume of 10,922,245. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $78.19 and a 200 day simple moving average of $80.86. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66. The company has a market capitalization of $69.43 billion, a price-to-earnings 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 released its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company had revenue of $8.37 billion during the quarter, compared to analysts' expectations of $8.27 billion. During the same period last year, the firm earned $1.48 EPS. The business's revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

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.