Norges Bank purchased a new position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 12,730,025 shares of the credit services provider's stock, valued at approximately $1,086,508,000. Norges Bank owned approximately 1.29% of PayPal at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of PYPL. Gordian Capital Singapore Pte Ltd bought a new stake in PayPal in the third quarter worth $26,000. Rosenberg Matthew Hamilton raised its position in shares of PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock worth $26,000 after purchasing an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC raised its position 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 worth $30,000 after purchasing an additional 272 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in PayPal in the 3rd quarter worth about $36,000. Finally, Modus Advisors LLC purchased a new stake in PayPal during the 4th quarter valued at about $37,000. 68.32% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at PayPal
In other news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction dated 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 owns 29,734 shares of the company's stock, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.14% of the company's stock.
PayPal Stock Performance
Shares of NASDAQ PYPL opened at $65.25 on Tuesday. PayPal Holdings, Inc. has a 1 year low of $56.97 and a 1 year high of $93.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $64.55 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The company's fifty day moving average price is $75.75 and its 200 day moving average price is $80.86.
PayPal (NASDAQ:PYPL - Get Free Report) last announced 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. The business had revenue of $8.37 billion during 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 was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.48 earnings per share. On average, research analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the company. StockNews.com downgraded PayPal from a "buy" rating to a "hold" rating in a report on Saturday. Macquarie upped their target price 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. Royal Bank of Canada reiterated an "outperform" rating and issued a $100.00 price target on shares of PayPal in a research note on Thursday, December 12th. Arete Research downgraded shares of PayPal from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Barclays lifted their target price on shares of PayPal from $92.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Sixteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $89.40.
Read Our Latest Stock Analysis on PayPal
About PayPal
(
Free Report)
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.
Further Reading
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