Glassy Mountain Advisors Inc. bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 31,233 shares of the credit services provider’s stock, valued at approximately $2,224,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of PayPal by 1.1% in the third quarter. Vanguard Group Inc. now owns 95,857,229 shares of the credit services provider’s stock valued at $8,250,431,000 after purchasing an additional 1,028,906 shares during the last quarter. State Street Corp increased its holdings in PayPal by 1.3% during the third quarter. State Street Corp now owns 44,690,146 shares of the credit services provider’s stock worth $3,846,481,000 after buying an additional 590,699 shares during the last quarter. Fisher Asset Management LLC increased its holdings in PayPal by 2.0% during the third quarter. Fisher Asset Management LLC now owns 17,668,310 shares of the credit services provider’s stock worth $1,520,711,000 after buying an additional 338,368 shares during the last quarter. Northern Trust Corp increased its holdings in PayPal by 1.2% during the first quarter. Northern Trust Corp now owns 13,155,190 shares of the credit services provider’s stock worth $1,521,399,000 after buying an additional 162,373 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in PayPal by 29.5% during the third quarter. Alliancebernstein L.P. now owns 11,339,290 shares of the credit services provider’s stock worth $975,973,000 after buying an additional 2,581,583 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on PYPL shares. Canaccord Genuity Group restated a “buy” rating and set a $160.00 price objective on shares of PayPal in a report on Friday, February 10th. Mizuho decreased their price objective on shares of PayPal from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, February 8th. Barclays raised their price objective on shares of PayPal from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday, December 12th. StockNews.com began coverage on shares of PayPal in a research report on Thursday. They set a “hold” rating for the company. Finally, BMO Capital Markets cut their target price on shares of PayPal from $117.00 to $108.00 and set an “outperform” rating for the company in a research report on Monday, February 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, PayPal has a consensus rating of “Moderate Buy” and a consensus target price of $108.42.
Insiders Place Their Bets
PayPal Price Performance
PayPal stock traded down $1.36 during mid-day trading on Friday, hitting $72.99. 27,210,436 shares of the company traded hands, compared to its average volume of 13,550,139. PayPal Holdings, Inc. has a one year low of $66.39 and a one year high of $122.92. The stock has a market cap of $82.58 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 1.10 and a beta of 1.31. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a fifty day moving average price of $77.66 and a 200-day moving average price of $80.97.
PayPal (NASDAQ:PYPL – Get Rating) last announced its earnings results on Thursday, February 9th. The credit services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $7.38 billion during the quarter, compared to analyst estimates of $7.39 billion. PayPal had a net margin of 8.79% and a return on equity of 17.48%. PayPal’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 earnings per share. On average, equities analysts predict that PayPal Holdings, Inc. will post 3.82 earnings per share for the current fiscal year.
PayPal Holdings, Inc engages in the development of technology platforms for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. It manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.
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