KLP Kapitalforvaltning AS Purchases Shares of 436,645 PayPal Holdings, Inc. (NASDAQ:PYPL)

KLP Kapitalforvaltning AS purchased a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 436,645 shares of the credit services provider’s stock, valued at approximately $37,268,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC boosted its position in shares of PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after acquiring an additional 7,767,072 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of PayPal by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,615,476 shares of the credit services provider’s stock valued at $564,631,000 after buying an additional 84,337 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of PayPal during the 3rd quarter valued at $387,435,000. Robeco Institutional Asset Management B.V. grew its stake in 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 buying an additional 2,689,162 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in PayPal by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 2,570,789 shares of the credit services provider’s stock valued at $200,599,000 after buying an additional 106,435 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Trading Up 0.7 %

Shares of PYPL opened at $70.19 on Friday. The business’s 50-day moving average price is $78.19 and its 200-day moving average price is $80.80. 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. The stock has a market cap of $69.43 billion, a PE ratio of 17.50, a P/E/G ratio of 1.27 and a beta of 1.52.

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

Insiders Place Their Bets

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the transaction, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective for the company in a research report on Friday, December 13th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research note on Wednesday, February 26th. Morgan Stanley boosted their target price on shares of PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Barclays raised their price objective on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Piper Sandler lowered their target price on PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.03.

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.