Redwood Investment Management LLC Makes New $1.45 Million Investment in PayPal Holdings, Inc. (NASDAQ:PYPL)

Redwood Investment Management LLC purchased a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 16,948 shares of the credit services provider's stock, valued at approximately $1,447,000.

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

Insider Activity at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now owns 29,734 shares of the company's stock, valued at $2,145,308.10. The trade was a 7.60% decrease in their position. 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 currently owned by company insiders.

PayPal Price Performance

NASDAQ PYPL opened at $71.57 on Friday. PayPal Holdings, Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $93.66. The stock's 50-day moving average is $65.90 and its two-hundred day moving average is $77.45. The firm has a market cap of $69.60 billion, a P/E ratio of 17.85, a price-to-earnings-growth 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 (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 for the quarter, beating analysts' consensus estimates of $1.16 by $0.17. The business had revenue of $7.79 billion for 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 firm's revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $1.08 EPS. On average, analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on PYPL. Piper Sandler dropped their price target on PayPal from $76.00 to $70.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Wells Fargo & Company cut their target price on PayPal from $80.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Arete Research set a $81.00 price target on PayPal in a research report on Thursday, March 27th. Barclays dropped their price target on PayPal from $110.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Finally, UBS Group reduced their price objective on shares of PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $83.68.

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.

Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.