Geode Capital Management LLC Has $1.85 Billion Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Geode Capital Management LLC increased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,736,394 shares of the credit services provider’s stock after acquiring an additional 271,836 shares during the period. Geode Capital Management LLC’s holdings in PayPal were worth $1,849,884,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of PayPal in the 4th quarter valued at $1,086,508,000. Artisan Partners Limited Partnership lifted 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 worth $666,100,000 after buying an additional 5,772,198 shares during the last quarter. World Investment Advisors LLC acquired a new stake in PayPal in the third quarter valued at about $387,435,000. Robeco Institutional Asset Management B.V. grew its position in PayPal by 174.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after acquiring an additional 2,689,162 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in PayPal during the fourth quarter worth about $135,537,000. 68.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

PYPL has been the topic of several research reports. Susquehanna lifted their price target on shares of PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a report on Monday, January 6th. Morgan Stanley boosted their target price on shares of PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. BTIG Research reissued a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. Wells Fargo & Company restated an “equal weight” rating on shares of PayPal in a research report on Wednesday, February 5th. Finally, Piper Sandler dropped 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. Sixteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.40.

Insider Transactions at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the sale, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by insiders.

PayPal Trading Up 1.3 %

PYPL opened at $66.10 on Wednesday. The company has a fifty day moving average price of $75.28 and a two-hundred day moving average price of $80.83. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66. The company has a market cap of $65.39 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48.

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

About PayPal

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.