PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Bought by DnB Asset Management AS

DnB Asset Management AS lifted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 101.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 352,066 shares of the credit services provider’s stock after purchasing an additional 177,644 shares during the quarter. DnB Asset Management AS’s holdings in PayPal were worth $30,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of PayPal in the 4th quarter worth approximately $1,086,508,000. Artisan Partners Limited Partnership boosted its position in shares of PayPal by 284.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock valued at $666,100,000 after purchasing an additional 5,772,198 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PayPal by 1.3% in the 4th 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 during the last quarter. World Investment Advisors LLC acquired a new stake in PayPal during the third quarter valued at approximately $387,435,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in PayPal by 174.1% during 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 buying an additional 2,689,162 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PYPL. Morgan Stanley upped their target price on PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Piper Sandler reduced their price objective on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. StockNews.com downgraded shares of PayPal from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup restated an “outperform” rating on shares of PayPal in a research report on Wednesday, February 5th. Finally, Susquehanna lifted their price objective on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research report on Monday, January 6th. Fifteen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $90.03.

Insiders Place Their Bets

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s 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 sale, the director now owns 29,734 shares in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

PayPal Stock Down 5.4 %

Shares of PYPL opened at $65.15 on Friday. The firm’s 50-day simple moving average is $76.28 and its 200 day simple moving average is $80.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $64.45 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a 52 week low of $56.97 and a 52 week high of $93.66.

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

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.