Ilmarinen Mutual Pension Insurance Co Has $8.81 Million Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Ilmarinen Mutual Pension Insurance Co lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 30.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,270 shares of the credit services provider’s stock after buying an additional 24,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in PayPal were worth $8,814,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PYPL. Geode Capital Management LLC boosted its position in PayPal by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider’s stock worth $1,849,884,000 after acquiring an additional 271,836 shares during the last quarter. Norges Bank bought a new stake in shares of PayPal in the fourth quarter worth $1,086,508,000. Artisan Partners Limited Partnership boosted its holdings 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 worth $666,100,000 after purchasing an additional 5,772,198 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in PayPal by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,615,476 shares of the credit services provider’s stock worth $564,631,000 after purchasing an additional 84,337 shares during the last quarter. Finally, World Investment Advisors LLC bought a new position in PayPal in the third quarter valued at $387,435,000. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PYPL shares. Susquehanna boosted their price target on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research report on Monday, January 6th. Piper Sandler dropped their target price on PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. BTIG Research restated a “neutral” rating on shares of PayPal in a research note on Tuesday, February 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research report on Wednesday, February 26th. Finally, Bank of America raised PayPal from a “neutral” rating to a “buy” rating and increased their price objective for the company from $86.00 to $103.00 in a report on Monday, December 9th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $89.13.

PayPal Price Performance

Shares of PayPal stock opened at $58.37 on Friday. 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 stock has a market capitalization of $57.74 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. PayPal Holdings, Inc. has a twelve month low of $56.97 and a twelve month high of $93.66. The company has a 50-day simple moving average of $73.65 and a two-hundred day simple moving average of $80.58.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.48 earnings per share. Analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insider Buying and Selling at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the firm’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 transaction, the director now owns 29,734 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company’s stock.

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.