Arrowstreet Capital Limited Partnership Purchases 1,217,694 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Arrowstreet Capital Limited Partnership raised its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 144.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,059,341 shares of the credit services provider’s stock after acquiring an additional 1,217,694 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in PayPal were worth $175,765,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PYPL. Gordian Capital Singapore Pte Ltd acquired a new stake in PayPal in the 3rd quarter valued at about $26,000. Rosenberg Matthew Hamilton increased its holdings in shares of PayPal by 67.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 125 shares in the last quarter. Sugarloaf Wealth Management LLC raised its position in PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in PayPal during the 3rd quarter worth $36,000. Finally, Modus Advisors LLC bought a new position in PayPal in the 4th quarter valued at $37,000. Institutional investors own 68.32% of the company’s stock.

Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the sale, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $100.00 target price on shares of PayPal in a research report on Thursday, December 12th. Piper Sandler dropped their price objective on PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. DZ Bank raised shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Friday, February 28th. BTIG Research reissued a “neutral” rating on shares of PayPal in a research note on Tuesday, February 4th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Sixteen analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.03.

PayPal Trading Down 5.4 %

NASDAQ PYPL opened at $65.15 on Monday. PayPal Holdings, Inc. has a 52 week low of $56.97 and a 52 week high of $93.66. 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 stock’s 50 day moving average price is $76.28 and its two-hundred day moving average price is $80.90. The stock has a market capitalization of $64.45 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 1.27 and a beta of 1.52.

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

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.