Virtus ETF Advisers LLC Makes New $1.18 Million Investment in PayPal Holdings, Inc. (NASDAQ:PYPL)

Virtus ETF Advisers LLC purchased a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 13,763 shares of the credit services provider's stock, valued at approximately $1,175,000.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of PayPal in the 4th quarter worth about $1,086,508,000. Capital Research Global Investors increased its position in PayPal by 108.2% in the fourth quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock worth $1,529,823,000 after buying an additional 9,313,783 shares during the period. Artisan Partners Limited Partnership boosted its holdings in shares of PayPal by 284.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider's stock valued at $666,100,000 after acquiring an additional 5,772,198 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of PayPal by 174.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider's stock worth $361,316,000 after acquiring an additional 2,689,162 shares during the last quarter. Finally, FMR LLC increased its holdings 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 acquiring an additional 2,161,582 shares during the period. Institutional investors and hedge funds own 68.32% of the company's stock.

Insider Buying and Selling at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the firm'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 transaction, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company's stock.

PayPal Stock Down 2.6 %

Shares of NASDAQ:PYPL traded down $1.73 during trading on Wednesday, reaching $64.59. 3,669,028 shares of the company traded hands, compared to its average volume of 11,429,300. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66. 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 firm has a market cap of $63.13 billion, a P/E ratio of 16.11, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The firm has a fifty day simple moving average of $66.27 and a 200 day simple moving average of $78.39.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate 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 business's revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 EPS. Analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PYPL has been the subject of several recent analyst reports. Susquehanna upped their target price on shares of PayPal from $94.00 to $101.00 and gave the stock a "positive" rating in a research report on Monday, January 6th. Citigroup restated an "outperform" rating on shares of PayPal in a research report on Wednesday, February 5th. Robert W. Baird increased their price target on PayPal from $78.00 to $79.00 and gave the stock an "outperform" rating in a research note on Wednesday. Royal Bank of Canada cut their price objective on shares of PayPal from $104.00 to $88.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Keefe, Bruyette & Woods decreased their target price on shares of PayPal from $104.00 to $85.00 and set an "outperform" rating for the company in a research report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PayPal currently has an average rating of "Moderate Buy" and an average target price of $83.72.

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.