Ontario Teachers Pension Plan Board Has $193.54 Million Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Ontario Teachers Pension Plan Board trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 55.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,267,564 shares of the credit services provider’s stock after selling 2,773,522 shares during the period. PayPal comprises about 2.3% of Ontario Teachers Pension Plan Board’s holdings, making the stock its 16th largest position. Ontario Teachers Pension Plan Board owned approximately 0.23% of PayPal worth $193,537,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Relyea Zuckerberg Hanson LLC boosted its holdings in shares of PayPal by 113.8% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock worth $638,000 after buying an additional 3,976 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in PayPal by 2.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider’s stock worth $59,489,000 after acquiring an additional 18,172 shares during the period. ExodusPoint Capital Management LP boosted its stake in PayPal by 223.1% in the fourth quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider’s stock valued at $22,622,000 after acquiring an additional 183,011 shares during the last quarter. StoneX Group Inc. grew its position in shares of PayPal by 70.4% during the 4th quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider’s stock valued at $2,326,000 after acquiring an additional 11,260 shares during the period. Finally, Fortem Financial Group LLC increased its stake in shares of PayPal by 28.0% during the 4th quarter. Fortem Financial Group LLC now owns 33,302 shares of the credit services provider’s stock worth $2,842,000 after purchasing an additional 7,291 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

PYPL has been the subject of a number of recent research reports. Piper Sandler decreased their target price on PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Citigroup reaffirmed an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. Wells Fargo & Company reiterated an “equal weight” rating on shares of PayPal in a research note on Wednesday, February 5th. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. Finally, Bank of America lowered their target price on shares of PayPal from $103.00 to $93.00 and set a “buy” rating on the stock in a report on Monday. Sixteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

PayPal Stock Performance

Shares of PYPL opened at $62.27 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market cap of $61.60 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.27 and a beta of 1.60. The business’s 50 day moving average price is $69.54 and its 200-day moving average price is $79.65. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66.

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

Insiders Place Their Bets

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the transaction, the director now directly owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

PayPal 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.