ABC Arbitrage SA Invests $1.34 Million in PayPal Holdings, Inc. (NASDAQ:PYPL)

ABC Arbitrage SA purchased a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) in the 4th quarter, Holdings Channel reports. The firm purchased 15,701 shares of the credit services provider’s stock, valued at approximately $1,340,000.

A number of other hedge funds also recently bought and sold shares of PYPL. Gordian Capital Singapore Pte Ltd purchased a new stake in PayPal during the third quarter valued at $26,000. Rosenberg Matthew Hamilton increased its position in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC increased its position in PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after acquiring an additional 272 shares during the last quarter. Planning Capital Management Corp increased its position in PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 268 shares during the last quarter. Finally, Financial Management Professionals Inc. increased its position in PayPal by 125.3% during the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after acquiring an additional 243 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

NASDAQ:PYPL opened at $77.97 on Friday. The firm has a market capitalization of $77.13 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.29 and a beta of 1.44. PayPal Holdings, Inc. has a 1 year low of $56.97 and a 1 year high of $93.66. The business has a 50 day simple moving average of $86.42 and a 200-day simple moving average of $80.14. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.25.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PYPL shares. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price objective on shares of PayPal in a research report on Thursday, December 12th. Robert W. Baird reduced their price target on PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Canaccord Genuity Group upped their price target on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Phillip Securities restated an “accumulate” rating and issued a $90.00 price target (up previously from $80.00) on shares of PayPal in a research report on Friday, November 1st. Thirteen analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.52.

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.