Zurcher Kantonalbank Zurich Cantonalbank Has $49.71 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Key Points

• Zurcher Kantonalbank increased its stake in PayPal Holdings, Inc. by 6.4% during the 1st quarter, now owning 0.08% of the company, valued at approximately $49.7 million.
• PayPal reported $1.33 earnings per share for the last quarter, exceeding analysts' expectations of $1.16, although its revenue of $7.79 billion fell slightly short of estimates.
• The consensus rating for PayPal among analysts is currently a "Hold" with an average price target of $83.13, following various rating changes from multiple financial institutions.

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 6.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 761,819 shares of the credit services provider's stock after purchasing an additional 45,817 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.08% of PayPal worth $49,709,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. J. Goldman & Co LP raised its holdings in PayPal by 11.9% during the fourth quarter. J. Goldman & Co LP now owns 261,322 shares of the credit services provider's stock worth $22,304,000 after purchasing an additional 27,812 shares during the last quarter. ExodusPoint Capital Management LP increased its stake in PayPal by 223.1% in 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 purchasing an additional 183,011 shares during the last quarter. StoneX Group Inc. increased its stake in PayPal by 70.4% in the fourth quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider's stock valued at $2,326,000 after purchasing an additional 11,260 shares during the last quarter. Proffitt & Goodson Inc. acquired a new position in PayPal in the first quarter valued at $535,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in PayPal by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,634,664 shares of the credit services provider's stock valued at $651,619,000 after purchasing an additional 1,114,858 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Stock Down 0.9%

PYPL stock traded down $0.66 during mid-day trading on Thursday, hitting $69.05. The stock had a trading volume of 8,567,888 shares, compared to its average volume of 11,190,938. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66. The company has a fifty day moving average of $73.25 and a 200 day moving average of $72.66. The stock has a market capitalization of $67.15 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.15 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its earnings results 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 company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.08 billion. During the same period in the prior year, the firm posted $1.19 EPS. On average, equities analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PYPL. Morgan Stanley reissued a "positive" rating on shares of PayPal in a research report on Wednesday. Evercore ISI started coverage on PayPal in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $65.00 price target on the stock. Barclays restated an "overweight" rating on shares of PayPal in a research note on Tuesday. Seaport Res Ptn raised PayPal from a "strong sell" rating to a "hold" rating in a report on Monday, July 14th. Finally, Macquarie reissued an "outperform" rating and issued a $95.00 price objective on shares of PayPal in a report on Wednesday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $84.10.

Insiders Place Their Bets

In other PayPal news, EVP Diego Scotti sold 3,839 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $281,168.36. Following the transaction, the executive vice president directly owned 16,989 shares of the company's stock, valued at $1,244,274.36. This represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Suzan Kereere sold 4,162 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $304,824.88. Following the transaction, the insider directly owned 48,483 shares in the company, valued at $3,550,894.92. The trade was a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,796 shares of company stock valued at $863,028 over the last three months. 0.08% of the stock is currently owned by insiders.

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.