First Manhattan CO. LLC. Buys 1,943 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

First Manhattan CO. LLC. boosted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,710 shares of the credit services provider’s stock after buying an additional 1,943 shares during the quarter. First Manhattan CO. LLC.’s holdings in PayPal were worth $3,475,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of PayPal in the fourth quarter valued at approximately $1,086,508,000. Capital Research Global Investors lifted its holdings in shares of PayPal by 108.2% in the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock worth $1,529,823,000 after buying an additional 9,313,783 shares during the period. Artisan Partners Limited Partnership grew its position in shares of PayPal by 284.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock worth $666,100,000 after buying an additional 5,772,198 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of PayPal by 174.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after buying an additional 2,689,162 shares during the period. Finally, FMR LLC raised its holdings in shares of PayPal by 12.9% in the fourth quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock valued at $1,615,134,000 after acquiring an additional 2,161,582 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PYPL has been the topic of several recent research reports. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of PayPal in a report on Tuesday, February 4th. BMO Capital Markets cut their price objective on shares of PayPal from $83.00 to $79.00 and set a “market perform” rating on the stock in a report on Wednesday, April 30th. DZ Bank upgraded PayPal from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a report on Friday, February 28th. UBS Group cut their price target on PayPal from $88.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. Finally, Robert W. Baird upped their price objective on PayPal from $78.00 to $79.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.68.

PayPal Price Performance

NASDAQ:PYPL opened at $70.26 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The company has a 50 day moving average price of $65.65 and a 200-day moving average price of $77.70. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66. The firm has a market cap of $68.33 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.17. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company had revenue of $7.79 billion during the quarter, compared to analysts’ expectations of $7.84 billion. During the same quarter in the previous year, the company earned $1.08 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insiders Place Their Bets

In other news, Director Gail J. Mcgovern sold 2,446 shares of the company’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 transaction of $176,478.90. Following the completion of the transaction, 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 filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by company insiders.

PayPal 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.