OVERSEA CHINESE BANKING Corp Ltd Buys 43,173 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

OVERSEA CHINESE BANKING Corp Ltd increased its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 319.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,691 shares of the credit services provider's stock after purchasing an additional 43,173 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in PayPal were worth $3,699,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. J. Goldman & Co LP lifted its stake in shares of PayPal by 11.9% in the 4th quarter. J. Goldman & Co LP now owns 261,322 shares of the credit services provider's stock valued at $22,304,000 after purchasing an additional 27,812 shares during the period. Nikko Asset Management Americas Inc. raised its stake in PayPal by 2.7% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider's stock valued at $59,489,000 after buying an additional 18,172 shares during the last quarter. ExodusPoint Capital Management LP raised its stake in PayPal by 223.1% during the fourth quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider's stock valued at $22,622,000 after buying an additional 183,011 shares during the last quarter. StoneX Group Inc. raised its stake in PayPal by 70.4% during the fourth quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider's stock valued at $2,326,000 after buying an additional 11,260 shares during the last quarter. Finally, Proffitt & Goodson Inc. purchased a new position in PayPal during the first quarter valued at $535,000. Hedge funds and other institutional investors own 68.32% of the company's stock.

PayPal Price Performance

PayPal stock traded up $0.89 during midday trading on Thursday, reaching $73.86. 8,515,101 shares of the stock traded hands, compared to its average volume of 10,867,711. The stock's fifty day moving average is $72.60 and its 200-day moving average is $73.46. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The stock has a market cap of $71.83 billion, a P/E ratio of 16.52, a PEG ratio of 1.19 and a beta of 1.45. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

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

Analyst Ratings Changes

A number of research analysts have issued reports on PYPL shares. Truist Financial started coverage on PayPal in a research note on Monday, June 2nd. They set a "sell" rating and a $68.00 price objective for the company. Bank of America decreased their price target on PayPal from $103.00 to $93.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Seaport Res Ptn upgraded PayPal from a "strong sell" rating to a "hold" rating in a research note on Monday. Canaccord Genuity Group restated a "buy" rating and issued a $96.00 price target on shares of PayPal in a research note on Wednesday, April 30th. Finally, Arete Research set a $81.00 price target on PayPal in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, PayPal currently has a consensus rating of "Hold" and an average target price of $82.81.

Insider Buying and Selling at PayPal

In other news, insider Suzan Kereere sold 4,162 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $304,824.88. Following the sale, the insider directly owned 48,483 shares in the company, valued at approximately $3,550,894.92. This represents a 7.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Diego Scotti sold 3,839 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $281,168.36. Following the transaction, the executive vice president owned 16,989 shares in the company, valued at $1,244,274.36. The trade was a 18.43% decrease in their ownership of the stock. 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 ninety days. Company insiders own 0.08% of the company's stock.

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.