Primecap Management Co. CA Sells 71,010 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Primecap Management Co. CA reduced its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.2% during the fourth quarter, Holdings Channel reports. The firm owned 5,944,806 shares of the credit services provider’s stock after selling 71,010 shares during the period. Primecap Management Co. CA’s holdings in PayPal were worth $507,389,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Park Place Capital Corp increased its holdings in PayPal by 6.6% in the 4th quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider’s stock worth $161,000 after buying an additional 116 shares during the period. Rosenberg Matthew Hamilton grew its stake in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares during the period. JFS Wealth Advisors LLC grew its stake in shares of PayPal by 33.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 502 shares of the credit services provider’s stock worth $43,000 after purchasing an additional 125 shares during the period. Wynn Capital LLC grew its stake in shares of PayPal by 1.1% during the 4th quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider’s stock worth $983,000 after purchasing an additional 130 shares during the period. Finally, Avalon Trust Co grew its stake in shares of PayPal by 7.0% during the 4th quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider’s stock worth $176,000 after purchasing an additional 135 shares during the period. 68.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on PYPL. Macquarie raised their price objective on shares of PayPal from $115.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $103.00 in a research note on Monday, December 9th. Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price on the stock in a research report on Friday, December 13th. StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of PayPal in a research report on Tuesday, February 4th. Fourteen investment 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 stock. According to MarketBeat, PayPal currently has an average rating of “Moderate Buy” and a consensus target price of $90.03.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $69.65 on Tuesday. 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 Holdings, Inc. has a twelve month low of $56.97 and a twelve month high of $93.66. The stock has a 50 day moving average of $79.56 and a two-hundred day moving average of $80.99. The stock has a market cap of $68.90 billion, a P/E ratio of 17.37, a P/E/G ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data 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. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Insider Buying and Selling at PayPal

In other 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by company insiders.

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.