Swiss National Bank Sells 206,000 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Swiss National Bank reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,743,700 shares of the credit services provider’s stock after selling 206,000 shares during the quarter. Swiss National Bank owned about 0.28% of PayPal worth $234,175,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Relyea Zuckerberg Hanson LLC grew its stake in shares of PayPal by 113.8% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after purchasing an additional 3,976 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of PayPal during the third quarter valued at approximately $387,435,000. Equity Investment Corp grew its stake in shares of PayPal by 3.5% during the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after purchasing an additional 67,497 shares during the last quarter. Fortem Financial Group LLC grew its stake in shares of PayPal by 28.0% during the fourth quarter. Fortem Financial Group LLC now owns 33,302 shares of the credit services provider’s stock valued at $2,842,000 after purchasing an additional 7,291 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of PayPal by 12.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,189,947 shares of the credit services provider’s stock valued at $248,912,000 after purchasing an additional 364,851 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction dated Thursday, February 27th. The shares were 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 trade represents a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Barclays increased their price objective on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Bank of America upgraded shares of PayPal from a “neutral” rating to a “buy” rating and increased their price objective for the company from $86.00 to $103.00 in a report on Monday, December 9th. Robert W. Baird cut their price objective on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. BTIG Research restated a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. Finally, Piper Sandler cut their price objective on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average price target of $90.03.

PayPal Stock Up 0.9 %

PayPal stock opened at $68.62 on Thursday. The company has a market cap of $67.88 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66. The company has a fifty day simple moving average of $80.72 and a 200 day simple moving average of $81.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $8.37 billion during 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 firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 earnings per share. Research analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

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.