Connor Clark & Lunn Investment Management Ltd. Has $34 Million Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its holdings in PayPal by 457.6%, acquiring an additional 427,636 shares to bring its total to 521,083 shares worth approximately $34 million.
• Institutional investor interest in PayPal has risen, with firms like Vanguard Group and Goldman Sachs also increasing their stakes, leading to institutional ownership of 68.32% of shares.
• PayPal recently reported earnings per share of $1.40, beating analyst estimates, with projected earnings of $5.03 for the current year.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 457.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 521,083 shares of the credit services provider's stock after buying an additional 427,636 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.05% of PayPal worth $34,001,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mpwm Advisory Solutions LLC acquired a new position in PayPal in the 4th quarter worth $25,000. Evermay Wealth Management LLC lifted its holdings in shares of PayPal by 726.0% in the first quarter. Evermay Wealth Management LLC now owns 413 shares of the credit services provider's stock valued at $27,000 after purchasing an additional 363 shares in the last quarter. Garde Capital Inc. acquired a new position in shares of PayPal during the first quarter worth about $28,000. Tsfg LLC raised its position in PayPal by 81.6% in the 1st quarter. Tsfg LLC now owns 445 shares of the credit services provider's stock valued at $29,000 after buying an additional 200 shares during the last quarter. Finally, Bernard Wealth Management Corp. bought a new stake in PayPal in the 4th quarter valued at approximately $34,000. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PYPL. Canaccord Genuity Group reaffirmed a "buy" rating and set a $96.00 price target on shares of PayPal in a research note on Wednesday, July 30th. UBS Group decreased their target price on shares of PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Seaport Res Ptn raised shares of PayPal from a "strong sell" rating to a "hold" rating in a research report on Monday, July 14th. Citigroup restated a "buy" rating on shares of PayPal in a report on Tuesday, July 29th. Finally, Truist Financial started coverage on PayPal in a report on Monday, June 2nd. They set a "sell" rating and a $68.00 target price on the stock. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, PayPal presently has a consensus rating of "Hold" and an average target price of $85.00.

Insider Buying and Selling at PayPal

In other news, Director Deborah M. Messemer sold 3,795 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.00, for a total transaction of $277,035.00. Following the transaction, the director directly owned 13,976 shares of the company's stock, valued at approximately $1,020,248. This trade represents a 21.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Chris Natali sold 7,102 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $69.35, for a total value of $492,523.70. The disclosure for this sale can be found here. Insiders have sold 22,736 shares of company stock worth $1,620,835 over the last quarter. Company insiders own 0.08% of the company's stock.

PayPal Stock Performance

Shares of NASDAQ PYPL traded down $0.57 during trading hours on Friday, reaching $67.65. 9,663,964 shares of the stock were exchanged, compared to its average volume of 12,859,930. The firm has a market capitalization of $64.63 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 1.04 and a beta of 1.42. The stock's fifty day simple moving average is $72.89 and its 200 day simple moving average is $71.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.33 and a current ratio of 1.33. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.10. PayPal had a return on equity of 25.35% and a net margin of 14.49%. The firm had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.08 billion. During the same quarter last year, the business earned $1.19 EPS. Sell-side analysts predict that PayPal Holdings, Inc. will post 5.03 EPS 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.