KLP Kapitalforvaltning AS Takes Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

KLP Kapitalforvaltning AS acquired a new position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 436,645 shares of the credit services provider's stock, valued at approximately $37,268,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PYPL. Gordian Capital Singapore Pte Ltd bought a new stake in PayPal in the third quarter worth approximately $26,000. Rosenberg Matthew Hamilton grew its position in shares of 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 buying an additional 125 shares during the period. Sugarloaf Wealth Management LLC increased its stake in shares of 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 in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of PayPal during the 3rd quarter valued at $36,000. Finally, Modus Advisors LLC bought a new position in PayPal during the fourth quarter worth $37,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction that occurred 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 completion of the sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by insiders.

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PayPal Price Performance

NASDAQ:PYPL traded down $0.11 during mid-day trading on Tuesday, hitting $70.86. 6,686,580 shares of the stock traded hands, compared to its average volume of 10,914,626. The business's 50-day moving average price is $77.61 and its 200 day moving average price is $80.92. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The company has a market cap of $70.10 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a 12-month low of $56.97 and a 12-month high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.08. The company 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 firm's revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.48 earnings per share. On average, analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PYPL shares. StockNews.com upgraded shares of PayPal from a "hold" rating to a "buy" rating in a report on Tuesday, December 24th. Citigroup reiterated an "outperform" rating on shares of PayPal in a report on Wednesday, February 5th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $100.00 target price on shares of PayPal in a research report on Thursday, December 12th. Macquarie boosted their price target on shares of PayPal from $115.00 to $117.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. Finally, Susquehanna upped their price objective on shares of PayPal from $94.00 to $101.00 and gave the stock a "positive" rating in a report on Monday, January 6th. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, PayPal has a consensus rating of "Moderate Buy" and a consensus target price of $90.03.

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.