Mirae Asset Global Investments Co. Ltd. Purchases 114,343 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Mirae Asset Global Investments Co. Ltd. boosted its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 31.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 474,628 shares of the credit services provider's stock after buying an additional 114,343 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in PayPal were worth $30,969,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in PayPal during the 4th quarter worth approximately $1,086,508,000. Capital Research Global Investors increased its holdings in PayPal by 108.2% during the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock worth $1,529,823,000 after purchasing an additional 9,313,783 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in 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 purchasing an additional 5,772,198 shares in the last quarter. FMR LLC increased its holdings in PayPal by 12.9% during the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock worth $1,615,134,000 after purchasing an additional 2,161,582 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in PayPal by 124.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,497,415 shares of the credit services provider's stock worth $228,206,000 after purchasing an additional 1,936,520 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PYPL. Citigroup cut their target price on PayPal from $98.00 to $95.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Compass Point began coverage on PayPal in a research note on Wednesday, April 23rd. They issued a "sell" rating and a $56.00 target price on the stock. UBS Group cut their target price on PayPal from $88.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Robert W. Baird boosted their target price on PayPal from $78.00 to $79.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Finally, Truist Financial began coverage on PayPal in a research note on Monday, June 2nd. They issued a "sell" rating and a $68.00 target price on the stock. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $83.42.

Insiders Place Their Bets

In other news, Director Deborah M. Messemer sold 3,795 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.00, for a total value of $277,035.00. Following the transaction, the director now owns 13,976 shares of the company's stock, valued at approximately $1,020,248. This represents a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Diego Scotti sold 3,839 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $281,168.36. Following the completion of the transaction, the executive vice president now directly owns 16,989 shares in the company, valued at approximately $1,244,274.36. The trade was a 18.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,796 shares of company stock worth $863,028 over the last 90 days. Corporate insiders own 0.08% of the company's stock.

PayPal Trading Up 0.6%

NASDAQ:PYPL opened at $73.64 on Friday. The company has a market cap of $71.62 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.22 and a beta of 1.45. The stock's fifty day moving average price is $70.16 and its two-hundred day moving average price is $74.58. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.17. The firm had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The business's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.08 earnings per share. As a group, analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current 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.

Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.