PayPal Holdings, Inc. (NASDAQ:PYPL) Stake Boosted by State of Wyoming

State of Wyoming increased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 93.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,665 shares of the credit services provider's stock after acquiring an additional 5,140 shares during the quarter. State of Wyoming's holdings in PayPal were worth $910,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PYPL. Geode Capital Management LLC boosted its stake in shares of PayPal by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider's stock valued at $1,849,884,000 after buying an additional 271,836 shares during the last quarter. FMR LLC boosted its stake in shares of PayPal by 12.9% during the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock valued at $1,615,134,000 after buying an additional 2,161,582 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of 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 valued at $1,529,823,000 after buying an additional 9,313,783 shares during the last quarter. Norges Bank purchased a new position in shares of PayPal during the 4th quarter valued at approximately $1,086,508,000. Finally, Northern Trust Corp boosted its stake in shares of PayPal by 19.0% during the 4th quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider's stock valued at $892,953,000 after buying an additional 1,669,908 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PYPL. Barclays reduced their target price on PayPal from $110.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Citigroup reduced their target price on PayPal from $98.00 to $95.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Evercore ISI began coverage on PayPal in a research note on Wednesday, April 9th. They set an "in-line" rating and a $65.00 price objective on the stock. Canaccord Genuity Group restated a "buy" rating and set a $96.00 price objective on shares of PayPal in a research note on Wednesday, April 30th. Finally, BMO Capital Markets reduced their price objective on PayPal from $83.00 to $79.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $83.68.

Insider Buying and Selling

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now directly owns 29,734 shares of the company's stock, valued at $2,145,308.10. The trade was a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by corporate insiders.

PayPal Stock Performance

Shares of PYPL traded up $0.29 during trading hours on Tuesday, reaching $72.61. 8,392,025 shares of the company's stock traded hands, compared to its average volume of 11,256,759. The firm has a market capitalization of $70.62 billion, a price-to-earnings ratio of 18.11, a P/E/G ratio of 1.27 and a beta of 1.51. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66. The business's fifty day simple moving average is $66.06 and its two-hundred day simple moving average is $77.34.

PayPal (NASDAQ:PYPL - Get Free Report) last issued 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. The company had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company earned $1.08 earnings per share. Analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

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.