Zurcher Kantonalbank Zurich Cantonalbank Grows Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 54.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 716,002 shares of the credit services provider’s stock after purchasing an additional 250,955 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PayPal were worth $61,111,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. FMR LLC boosted its stake in shares of PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after purchasing an additional 7,767,072 shares during the period. Mizuho Securities USA LLC raised its holdings in PayPal by 12,919.4% in the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after purchasing an additional 10,419,351 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in PayPal by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,615,476 shares of the credit services provider’s stock worth $564,631,000 after purchasing an additional 84,337 shares in the last quarter. Primecap Management Co. CA raised its holdings in PayPal by 21.6% in the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after purchasing an additional 1,069,356 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new stake in shares of PayPal in the third quarter worth $387,435,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Insider Transactions at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction 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. This represents a 7.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

PayPal Price Performance

PYPL opened at $70.48 on Monday. The business has a fifty day moving average of $81.75 and a 200 day moving average of $81.13. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66. 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 $69.72 billion, a P/E ratio of 17.58, a PEG ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the prior year, the company earned $1.48 EPS. The business’s 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PYPL shares. BTIG Research reissued a “neutral” rating on shares of PayPal in a research note on Tuesday, February 4th. Barclays raised their target price on PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of PayPal in a research note on Thursday, December 12th. Keefe, Bruyette & Woods lifted their target price on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of PayPal in a research note on Wednesday, February 5th. 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. Based on data from MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and an average price target 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.