Fisher Asset Management LLC Acquires 1,676 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Fisher Asset Management LLC lifted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 14.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 13,217 shares of the credit services provider’s stock after purchasing an additional 1,676 shares during the quarter. Fisher Asset Management LLC’s holdings in PayPal were worth $1,128,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PYPL. Gordian Capital Singapore Pte Ltd bought a new position in shares of PayPal during the 3rd quarter worth about $26,000. Rosenberg Matthew Hamilton lifted its holdings in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 125 shares during the period. Sugarloaf Wealth Management LLC lifted its holdings in shares of PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 272 shares during the period. Planning Capital Management Corp lifted its holdings in shares of PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 268 shares during the period. Finally, Legacy Investment Solutions LLC bought a new position in shares of PayPal during the 3rd quarter worth about $36,000. 68.32% of the stock is owned by institutional investors.

PayPal Stock Up 3.0 %

PayPal stock opened at $69.50 on Thursday. The company’s 50 day simple moving average is $82.48 and its 200 day simple moving average is $81.09. PayPal Holdings, Inc. has a fifty-two week low of $56.97 and a fifty-two week high of $93.66. The firm has a market capitalization of $68.75 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 1.27 and a beta of 1.52. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26.

PayPal (NASDAQ:PYPL) last released 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 net margin of 13.04% and a return on equity of 23.67%. The business had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the firm earned $1.48 EPS. PayPal’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insider Buying and Selling

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the transaction, the director now owns 29,734 shares of the company’s stock, valued at approximately $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 SEC, which is available through the SEC website. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

PYPL has been the subject of a number of recent analyst reports. Piper Sandler dropped their target price on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 target price on shares of PayPal in a research report on Thursday, December 12th. Wolfe Research upgraded shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price for the company in a research report on Friday, December 13th. Wells Fargo & Company reiterated an “equal weight” rating on shares of PayPal in a research report on Wednesday, February 5th. Finally, Bank of America upgraded shares of PayPal from a “neutral” rating to a “buy” rating and increased their target price for the stock from $86.00 to $103.00 in a research report on Monday, December 9th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and an average target price of $90.03.

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.