Mackenzie Financial Corp Has $9.96 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Mackenzie Financial Corp lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,688 shares of the credit services provider's stock after selling 7,311 shares during the quarter. Mackenzie Financial Corp's holdings in PayPal were worth $9,959,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Forum Financial Management LP raised its holdings in PayPal by 154.6% in the 4th quarter. Forum Financial Management LP now owns 14,512 shares of the credit services provider's stock valued at $1,239,000 after acquiring an additional 8,813 shares in the last quarter. Amiral Gestion acquired a new position in shares of PayPal in the fourth quarter valued at $17,047,000. Auxier Asset Management acquired a new position in shares of PayPal in the fourth quarter valued at $202,000. GF Fund Management CO. LTD. bought a new position in PayPal in the fourth quarter worth $16,276,000. Finally, Pinney & Scofield Inc. acquired a new stake in PayPal during the fourth quarter worth $35,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PYPL has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of PayPal from $79.00 to $80.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Royal Bank of Canada lowered their price objective on PayPal from $104.00 to $88.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods dropped their target price on PayPal from $104.00 to $85.00 and set an "outperform" rating for the company in a report on Monday, March 31st. Wells Fargo & Company decreased their price target on PayPal from $80.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, Macquarie dropped their price objective on PayPal from $117.00 to $95.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.68.

PayPal Trading Down 0.7%

NASDAQ PYPL traded down $0.51 on Thursday, reaching $70.93. The company had a trading volume of 7,057,870 shares, compared to its average volume of 11,185,499. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66. The stock's 50 day moving average is $66.34 and its 200-day moving average is $76.93. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market cap of $68.98 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 1.27 and a beta of 1.51.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.17. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company had revenue of $7.79 billion during the quarter, compared to analysts' expectations of $7.84 billion. During the same period in the prior year, the business posted $1.08 EPS. PayPal's revenue was up 1.2% on a year-over-year basis. Equities analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share 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.