Jupiter Asset Management Ltd. raised its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 174.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 288,002 shares of the credit services provider's stock after buying an additional 183,023 shares during the quarter. Jupiter Asset Management Ltd.'s holdings in PayPal were worth $24,581,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. United Bank raised its holdings in shares of PayPal by 9.7% during the third quarter. United Bank now owns 8,941 shares of the credit services provider's stock valued at $698,000 after buying an additional 794 shares during the last quarter. Sigma Planning Corp increased its position in PayPal by 20.0% in the 3rd quarter. Sigma Planning Corp now owns 12,736 shares of the credit services provider's stock valued at $994,000 after acquiring an additional 2,120 shares during the period. Axxcess Wealth Management LLC raised its stake in PayPal by 23.4% during the 3rd quarter. Axxcess Wealth Management LLC now owns 13,782 shares of the credit services provider's stock valued at $1,075,000 after acquiring an additional 2,611 shares in the last quarter. Chartwell Investment Partners LLC boosted its position in PayPal by 24.6% during the 3rd quarter. Chartwell Investment Partners LLC now owns 30,400 shares of the credit services provider's stock worth $2,371,000 after acquiring an additional 6,000 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of PayPal by 12.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,189,947 shares of the credit services provider's stock worth $248,912,000 after purchasing an additional 364,851 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.
NASDAQ PYPL opened at $68.62 on Thursday. The company has a 50 day simple moving average of $80.72 and a 200-day simple moving average of $81.00. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66. The firm has a market capitalization of $67.88 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26.
PayPal (NASDAQ:PYPL - Get Free Report) last released its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. The company's revenue was up 4.2% compared to the same quarter last year. Equities research analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.
PYPL has been the topic of a number of recent analyst reports. Needham & Company LLC restated a "hold" rating on shares of PayPal in a research note on Wednesday, February 26th. DZ Bank raised shares of PayPal from a "hold" rating to a "buy" rating and set a $92.00 price target for the company in a research note on Friday, February 28th. Keefe, Bruyette & Woods increased their price objective on shares of PayPal from $92.00 to $104.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Barclays boosted their target price on PayPal from $92.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Finally, Robert W. Baird decreased their price target on PayPal from $100.00 to $95.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $90.03.
Read Our Latest Stock Analysis on PYPL
In related news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now owns 29,734 shares of the company's stock, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.14% of the company's stock.
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.
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