Convergence Investment Partners LLC Purchases 2,988 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Convergence Investment Partners LLC lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 28,262 shares of the credit services provider’s stock after buying an additional 2,988 shares during the quarter. Convergence Investment Partners LLC’s holdings in PayPal were worth $2,412,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. FMR LLC increased its stake in PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares during the period. Mizuho Securities USA LLC increased its stake in PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after acquiring an additional 10,419,351 shares during the period. Primecap Management Co. CA increased its stake in PayPal by 21.6% during the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after acquiring an additional 1,069,356 shares during the period. World Investment Advisors LLC bought a new position in PayPal during the 3rd quarter worth $387,435,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of PayPal by 174.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after purchasing an additional 2,689,162 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Macquarie lifted their price target on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Morgan Stanley cut their price objective on PayPal from $90.00 to $79.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Citigroup raised their price objective on PayPal from $97.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price objective on shares of PayPal in a report on Thursday, December 12th. Finally, Piper Sandler raised their price objective on PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Thirteen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and an average target price of $90.52.

PayPal Stock Performance

PYPL stock opened at $78.62 on Wednesday. The stock has a 50-day moving average price of $86.18 and a 200-day moving average price of $80.45. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm has a market cap of $77.77 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 1.28 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share 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 analyst estimates of $8.27 billion. During the same period last year, the company posted $1.48 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

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.