Westpac Banking Corp Acquires 14,992 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Westpac Banking Corp increased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 74.0% during the 4th quarter, HoldingsChannel reports. The fund owned 35,253 shares of the credit services provider’s stock after buying an additional 14,992 shares during the period. Westpac Banking Corp’s holdings in PayPal were worth $3,009,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of PayPal in the 4th quarter worth approximately $1,086,508,000. Artisan Partners Limited Partnership raised its stake in PayPal by 284.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock valued at $666,100,000 after buying an additional 5,772,198 shares during the last quarter. World Investment Advisors LLC bought a new stake in PayPal in the third quarter worth $387,435,000. Robeco Institutional Asset Management B.V. grew its stake in shares of PayPal by 174.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after acquiring an additional 2,689,162 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of PayPal during the fourth quarter valued at $135,537,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $61.71 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. PayPal Holdings, Inc. has a 1 year low of $56.97 and a 1 year high of $93.66. The firm has a fifty day moving average price of $74.26 and a 200-day moving average price of $80.61. The stock has a market cap of $61.05 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60.

PayPal (NASDAQ:PYPL) last posted its quarterly 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 for 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 quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $1.48 earnings per share. Equities analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of PayPal in a report on Tuesday, February 4th. Citigroup restated an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. Macquarie increased their target price on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Finally, Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $103.00 in a research note on Monday, December 9th. Sixteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.13.

Insiders Place Their Bets

In other news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

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.