Prudential PLC grew its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 43.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,421 shares of the credit services provider's stock after acquiring an additional 12,242 shares during the quarter. Prudential PLC's holdings in PayPal were worth $3,450,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Gordian Capital Singapore Pte Ltd acquired a new position in PayPal in the third quarter valued at approximately $26,000. Rosenberg Matthew Hamilton grew its stake 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 buying an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its stake in PayPal by 344.3% in the fourth 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 last quarter. Legacy Investment Solutions LLC acquired a new position in shares of PayPal during the third quarter valued at $36,000. Finally, Modus Advisors LLC bought a new position in shares of PayPal during the fourth quarter worth about $37,000. 68.32% of the stock is owned by institutional investors and hedge funds.
Insider Activity at PayPal
In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction 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 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 can be accessed through this link. 0.14% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research firms have issued reports on PYPL. Citigroup reissued an "outperform" rating on shares of PayPal in a research note on Wednesday, February 5th. BTIG Research restated a "neutral" rating on shares of PayPal in a research report on Tuesday, February 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a research note on Wednesday, February 26th. Royal Bank of Canada reissued an "outperform" rating and issued a $100.00 price target on shares of PayPal in a research note on Thursday, December 12th. Finally, Bank of America raised PayPal from a "neutral" rating to a "buy" rating and raised their price target for the company from $86.00 to $103.00 in a report on Monday, December 9th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $89.13.
Get Our Latest Report on PYPL
PayPal Stock Performance
Shares of NASDAQ:PYPL traded up $0.16 on Monday, hitting $58.53. 20,254,711 shares of the company were exchanged, compared to its average volume of 11,353,006. The company's 50 day moving average price is $73.65 and its two-hundred day moving average price is $80.63. The firm has a market capitalization of $57.90 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 1.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. PayPal Holdings, Inc. has a one year low of $55.65 and a one year high of $93.66.
PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly 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 firm had revenue of $8.37 billion during the quarter, compared to analysts' expectations of $8.27 billion. During the same quarter in the prior year, the firm posted $1.48 EPS. The company's revenue for the quarter was up 4.2% on a year-over-year basis. Research analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.
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.
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