Alberta Investment Management Corp Grows Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Alberta Investment Management Corp boosted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 30.2% in the fourth quarter, HoldingsChannel reports. The firm owned 38,800 shares of the credit services provider’s stock after buying an additional 9,000 shares during the period. Alberta Investment Management Corp’s holdings in PayPal were worth $2,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in PayPal during the fourth quarter valued at approximately $749,561,000. Nordea Investment Management AB boosted its stake in shares of PayPal by 420.6% during the 3rd quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock worth $190,371,000 after acquiring an additional 2,616,774 shares in the last quarter. FMR LLC grew its position in shares of PayPal by 29.5% during the 3rd quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after acquiring an additional 1,575,930 shares during the period. Morgan Stanley increased its stake in shares of PayPal by 4.5% in the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after purchasing an additional 873,181 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in PayPal by 56.5% during the third quarter. Envestnet Asset Management Inc. now owns 2,395,312 shares of the credit services provider’s stock worth $140,030,000 after purchasing an additional 864,684 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PYPL shares. Royal Bank of Canada lifted their price target on shares of PayPal from $74.00 to $84.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Citigroup lowered their price objective on PayPal from $76.00 to $73.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Wedbush reissued an “outperform” rating and set a $85.00 target price on shares of PayPal in a report on Thursday, February 8th. William Blair reaffirmed an “outperform” rating on shares of PayPal in a research note on Thursday, February 8th. Finally, UBS Group boosted their price target on PayPal from $63.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Twenty-one research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $73.59.

Get Our Latest Stock Analysis on PayPal

Insider Activity

In related news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the transaction, the director now owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.

PayPal Trading Up 0.8 %

PYPL stock traded up $0.48 during mid-day trading on Friday, hitting $62.99. 14,269,038 shares of the company were exchanged, compared to its average volume of 9,190,342. The business has a fifty day simple moving average of $64.54 and a 200-day simple moving average of $61.90. The firm has a market capitalization of $65.89 billion, a P/E ratio of 15.87, a PEG ratio of 1.03 and a beta of 1.41. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $76.54. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPLGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. On average, equities research analysts predict that PayPal Holdings, Inc. will post 4.13 earnings per share for the current fiscal year.

PayPal Profile

(Free Report)

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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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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