iA Global Asset Management Inc. Raises Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

iA Global Asset Management Inc. lifted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 55.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 172,527 shares of the credit services provider’s stock after acquiring an additional 61,736 shares during the period. iA Global Asset Management Inc.’s holdings in PayPal were worth $14,725,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PYPL. FMR LLC lifted its holdings in shares of PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after purchasing an additional 7,767,072 shares during the period. World Investment Advisors LLC acquired a new stake in shares of PayPal during the third quarter worth about $387,435,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of PayPal by 174.1% during 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 purchasing an additional 2,689,162 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of PayPal during the fourth quarter worth about $135,537,000. Finally, Primecap Management Co. CA lifted its holdings in shares of PayPal by 21.6% during the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after purchasing an additional 1,069,356 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Up 1.6 %

Shares of PYPL opened at $70.00 on Thursday. 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 $56.97 and a one year high of $93.66. The stock has a market capitalization of $69.25 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 1.27 and a beta of 1.52. The stock has a 50 day moving average price of $78.82 and a 200 day moving average price of $80.89.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping 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 period in the previous year, the business earned $1.48 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on PYPL shares. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of PayPal in a report on Wednesday, February 5th. Piper Sandler decreased their target price on PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. BTIG Research reissued a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Finally, Keefe, Bruyette & Woods boosted their price target on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Fourteen research 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $90.03.

Insider Buying and Selling at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction on 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 directly owns 29,734 shares in the company, valued at $2,145,308.10. This represents a 7.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by company insiders.

PayPal 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.