PayPal Holdings, Inc. (NASDAQ:PYPL) Stake Boosted by Tang Capital Management LLC

Tang Capital Management LLC increased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 41.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,714 shares of the credit services provider's stock after purchasing an additional 4,615 shares during the quarter. Tang Capital Management LLC's holdings in PayPal were worth $1,341,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PYPL. Geode Capital Management LLC lifted its stake in PayPal by 1.3% in 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 in the last quarter. FMR LLC lifted its stake in PayPal by 12.9% in 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 in the last quarter. Capital Research Global Investors lifted its stake in PayPal by 108.2% in 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 in the last quarter. Norges Bank purchased a new stake in PayPal in the 4th quarter valued at approximately $1,086,508,000. Finally, Northern Trust Corp lifted its stake in PayPal by 19.0% in 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 in the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of recent research reports. Macquarie reduced their target price on PayPal from $117.00 to $95.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $96.00 target price on shares of PayPal in a research note on Wednesday, April 30th. Royal Bank of Canada reduced their price target on PayPal from $104.00 to $88.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Wells Fargo & Company reduced 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, JPMorgan Chase & Co. reiterated an "overweight" rating on shares of PayPal in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $83.68.

Insider Buying and Selling

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction that occurred on 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 owns 29,734 shares of the company's stock, valued at $2,145,308.10. This trade represents a 7.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company's stock.

PayPal Stock Down 0.2%

Shares of PayPal stock traded down $0.14 during trading hours on Thursday, hitting $71.51. 2,906,408 shares of the company's stock traded hands, compared to its average volume of 11,497,180. The stock has a 50 day simple moving average of $66.23 and a 200-day simple moving average of $77.27. 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 company has a market cap of $69.55 billion, a PE ratio of 17.83, a PEG ratio of 1.27 and a beta of 1.51. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66.

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