OVERSEA CHINESE BANKING Corp Ltd Has $1.17 Million Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 91.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,518 shares of the credit services provider’s stock after selling 153,040 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in PayPal were worth $1,174,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Enhancing Capital LLC bought a new position in shares of PayPal in the fourth quarter valued at approximately $1,007,000. Xponance Inc. increased its position in PayPal by 0.3% during the fourth quarter. Xponance Inc. now owns 149,097 shares of the credit services provider’s stock worth $12,725,000 after acquiring an additional 424 shares during the period. Generali Asset Management SPA SGR bought a new position in PayPal during the fourth quarter worth $3,115,000. Evoke Wealth LLC increased its position in PayPal by 44.0% during the fourth quarter. Evoke Wealth LLC now owns 3,964 shares of the credit services provider’s stock worth $338,000 after acquiring an additional 1,212 shares during the period. Finally, Horizon Investments LLC increased its position in PayPal by 6.0% during the fourth quarter. Horizon Investments LLC now owns 24,566 shares of the credit services provider’s stock worth $2,097,000 after acquiring an additional 1,398 shares during the period. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

Shares of NASDAQ:PYPL opened at $70.00 on Thursday. The stock has a market capitalization of $69.25 billion, a P/E ratio of 17.46, a P/E/G 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 current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $78.82 and a two-hundred day moving average price of $80.89.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PYPL. Barclays boosted their target price on shares of PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. BTIG Research reissued a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. Piper Sandler lowered their price target 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. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Wednesday, February 26th. Finally, Susquehanna boosted their price target on shares of PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a report on Monday, January 6th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.03.

Insiders Place Their Bets

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 sale, the director now directly owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This represents a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

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.