Primecap Management Co. CA Has $507.39 Million Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Primecap Management Co. CA lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,944,806 shares of the credit services provider’s stock after selling 71,010 shares during the period. Primecap Management Co. CA owned approximately 0.60% of PayPal worth $507,389,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rosenberg Matthew Hamilton grew its stake in 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 during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in PayPal in the 3rd quarter valued at about $26,000. Sugarloaf Wealth Management LLC grew its stake in PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares during the last quarter. Modus Advisors LLC acquired a new position in shares of PayPal during the 4th quarter worth approximately $37,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of PayPal during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on PYPL shares. Wells Fargo & Company restated an “equal weight” rating on shares of PayPal in a research report on Wednesday, February 5th. JPMorgan Chase & Co. restated an “overweight” rating on shares of PayPal in a research report on Tuesday, February 4th. Barclays increased their price target on shares of PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Susquehanna increased their price target on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research report on Monday, January 6th. Finally, BTIG Research reiterated a “neutral” 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 given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $90.03.

Insider Activity

In other news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction dated Thursday, February 27th. The shares were 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 in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

PayPal Trading Up 1.0 %

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. The stock has a market capitalization of $68.90 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 1.27 and a beta of 1.52. The firm has a fifty day simple moving average of $79.56 and a two-hundred day simple moving average of $80.99. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the company posted $1.48 earnings per share. Analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

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.