Norges Bank Acquires New Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Norges Bank bought a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,730,025 shares of the credit services provider’s stock, valued at approximately $1,086,508,000.

Several other hedge funds also recently bought and sold shares of the company. Rosenberg Matthew Hamilton increased its position in shares of PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after buying an additional 125 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in shares of PayPal in the third quarter worth about $26,000. Sugarloaf Wealth Management LLC raised its position in shares of PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares during the period. Modus Advisors LLC acquired a new position in shares of PayPal in the 4th quarter valued at approximately $37,000. Finally, Crowley Wealth Management Inc. bought a new stake in PayPal during the 4th quarter worth approximately $39,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction 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 sale, the director now directly owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.

PayPal Stock Down 1.6 %

PYPL opened at $68.86 on Friday. The stock has a fifty day moving average of $76.81 and a 200-day moving average of $80.76. The company has a market capitalization of $68.12 billion, a P/E ratio of 17.17, a P/E/G ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a fifty-two week low of $56.97 and a fifty-two week high of $93.66. 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 (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on PYPL. Bank of America upgraded shares of PayPal from a “neutral” rating to a “buy” rating and upped their price target for the company from $86.00 to $103.00 in a report on Monday, December 9th. Robert W. Baird lowered their target price on PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a report on Friday, December 13th. Piper Sandler decreased their price objective on PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $90.03.

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.