Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 93,447 PayPal Holdings, Inc. (NASDAQ:PYPL)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 93,447 shares of the credit services provider’s stock, valued at approximately $7,976,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mizuho Securities USA LLC lifted its stake in shares of PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after purchasing an additional 10,419,351 shares during the period. FMR LLC raised its holdings in PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after purchasing an additional 7,767,072 shares in the last quarter. World Investment Advisors LLC purchased a new position in PayPal during the third quarter valued at $387,435,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of PayPal by 174.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after buying an additional 2,689,162 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of PayPal in the 4th quarter worth about $135,537,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Up 3.0 %

PYPL stock opened at $68.95 on Friday. The business’s 50-day moving average price is $79.96 and its 200-day moving average price is $80.94. The stock has a market cap of $68.21 billion, a P/E ratio of 17.19, a PEG ratio of 1.27 and a beta of 1.52. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a twelve month low of $56.97 and a twelve month high of $93.66.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.08. The business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.48 earnings per share. On average, equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insider Buying and Selling

In other news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value 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. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PYPL has been the topic of several research reports. JPMorgan Chase & Co. reissued an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price objective on shares of PayPal in a research report on Thursday, December 12th. Keefe, Bruyette & Woods boosted their target price on PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Barclays raised their price target on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Citigroup reissued an “outperform” rating on shares of PayPal in a research report on Wednesday, February 5th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.03.

About PayPal

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.