Truffle Hound Capital LLC Purchases New Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Truffle Hound Capital LLC purchased a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 60,000 shares of the credit services provider’s stock, valued at approximately $5,121,000. PayPal comprises about 1.8% of Truffle Hound Capital LLC’s portfolio, making the stock its 15th largest holding.

A number of other institutional investors have also recently made changes to their positions in PYPL. FMR LLC lifted its holdings in shares of PayPal by 86.3% in the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after acquiring an additional 7,767,072 shares during the last quarter. World Investment Advisors LLC bought a new stake in PayPal in the third quarter worth about $387,435,000. Robeco Institutional Asset Management B.V. lifted its stake in PayPal by 174.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after purchasing an additional 2,689,162 shares during the last quarter. Raymond James Financial Inc. bought a new stake in PayPal in the fourth quarter worth about $135,537,000. Finally, Contrarius Group Holdings Ltd bought a new stake in PayPal in the fourth quarter worth about $81,342,000. Institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. reissued an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Susquehanna raised their price objective on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research note on Monday, January 6th. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research note on Tuesday, February 4th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and lifted their price target for the company from $86.00 to $103.00 in a research note on Monday, December 9th. Finally, Wolfe Research raised shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target for the company in a research note on Friday, December 13th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.03.

PayPal Price Performance

NASDAQ PYPL opened at $70.19 on Friday. The firm’s fifty day simple moving average is $78.19 and its two-hundred day simple moving average is $80.80. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a 12-month low of $56.97 and a 12-month high of $93.66. The firm has a market capitalization of $69.43 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data 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 firm had revenue of $8.37 billion for the quarter, compared to analyst estimates 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 period in the previous year, the company earned $1.48 earnings per share. Analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Activity

In other news, Director Gail J. Mcgovern sold 2,446 shares of the business’s 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.