Platinum Investment Management Ltd. Grows Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Platinum Investment Management Ltd. grew its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4,466.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 60,000 shares of the credit services provider’s stock after acquiring an additional 58,686 shares during the quarter. Platinum Investment Management Ltd.’s holdings in PayPal were worth $5,121,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Rosenberg Matthew Hamilton lifted its holdings in shares of PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after buying an additional 125 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of PayPal in the 3rd quarter valued at approximately $26,000. Sugarloaf Wealth Management LLC lifted its holdings in shares of PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares during the period. Modus Advisors LLC acquired a new stake in shares of PayPal in the 4th quarter valued at approximately $37,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of PayPal in the 3rd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Insider Activity

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now directly owns 29,734 shares of the company’s stock, valued at $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

PayPal Stock Down 1.1 %

Shares of NASDAQ PYPL opened at $68.88 on Wednesday. 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 fifty day simple moving average of $79.18 and a two-hundred day simple moving average of $80.97. The firm has a market capitalization of $68.14 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The firm had revenue of $8.37 billion for 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 business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 EPS. Equities analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Macquarie raised their price target on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a report on Monday, February 10th. Morgan Stanley lifted their price objective on PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of PayPal in a research report on Tuesday, February 4th. Keefe, Bruyette & Woods boosted their price target on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.03.

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.