Twinbeech Capital LP Takes Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Twinbeech Capital LP bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 88,391 shares of the credit services provider’s stock, valued at approximately $7,544,000.

A number of other hedge funds have also recently added to or reduced their stakes in PYPL. Norges Bank purchased a new stake in PayPal during the fourth quarter worth $1,086,508,000. Capital Research Global Investors boosted its holdings in PayPal by 108.2% during the fourth 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 in the last quarter. Artisan Partners Limited Partnership boosted its holdings in PayPal by 284.0% during the fourth 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. boosted its holdings in 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 worth $361,316,000 after buying an additional 2,689,162 shares in the last quarter. Finally, FMR LLC boosted its holdings in PayPal by 12.9% during the fourth quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock worth $1,615,134,000 after buying an additional 2,161,582 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 analysts recently issued reports on PYPL shares. BMO Capital Markets lowered their price target 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. Macquarie decreased their price objective on shares of PayPal from $117.00 to $95.00 and set an “outperform” rating on the stock in a report on Tuesday, April 29th. UBS Group decreased their price objective on shares of PayPal from $88.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. Monness Crespi & Hardt decreased their price objective on shares of PayPal from $120.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Evercore ISI assumed coverage on shares of PayPal in a report on Wednesday, April 9th. They set an “in-line” rating and a $65.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.68.

PayPal Trading Up 0.2%

NASDAQ PYPL opened at $72.32 on Tuesday. The firm has a 50 day simple moving average of $66.06 and a 200-day simple moving average of $77.34. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. PayPal Holdings, Inc. has a one year low of $55.85 and a one year high of $93.66. The firm has a market cap of $70.33 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 1.27 and a beta of 1.51.

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

Insider Buying and Selling

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the transaction, the director now owns 29,734 shares in the company, valued at $2,145,308.10. The trade was a 7.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by insiders.

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.