PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Bought by Huntington National Bank

Huntington National Bank lifted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,468 shares of the credit services provider’s stock after buying an additional 2,366 shares during the quarter. Huntington National Bank’s holdings in PayPal were worth $12,074,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in PayPal by 1.3% during the 4th 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. Norges Bank acquired a new position in PayPal in the fourth quarter worth about $1,086,508,000. Artisan Partners Limited Partnership increased its holdings in PayPal by 284.0% in 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 buying an additional 5,772,198 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in PayPal by 1.3% during 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. Finally, World Investment Advisors LLC bought a new position in PayPal during the 3rd quarter worth approximately $387,435,000. Institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

PYPL has been the topic of several research reports. Wolfe Research raised PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a research report on Friday, December 13th. Barclays increased their target price on shares of PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com lowered shares of PayPal from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Keefe, Bruyette & Woods dropped their price objective on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Needham & Company LLC restated a “hold” rating on shares of PayPal in a research note on Wednesday, February 26th. Sixteen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.40.

Insider Buying and Selling at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction on Thursday, February 27th. The stock was 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 $2,145,308.10. The trade was a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is owned by corporate insiders.

PayPal Price Performance

NASDAQ:PYPL opened at $67.15 on Thursday. 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 business’s 50-day moving average price is $74.82 and its 200 day moving average price is $80.74. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66. The firm has a market cap of $66.43 billion, a P/E ratio of 16.75, a PEG ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data 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. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the previous year, the company posted $1.48 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

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.