Polymer Capital Management HK LTD Has $606,000 Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Polymer Capital Management HK LTD raised its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,100 shares of the credit services provider’s stock after purchasing an additional 550 shares during the period. Polymer Capital Management HK LTD’s holdings in PayPal were worth $606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of PayPal during the fourth quarter worth $1,086,508,000. Artisan Partners Limited Partnership increased its stake in shares of PayPal by 284.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock valued at $666,100,000 after acquiring an additional 5,772,198 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of PayPal by 174.1% in the 4th 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 acquiring an additional 2,689,162 shares during the period. Raymond James Financial Inc. bought a new position in PayPal during the 4th quarter worth approximately $135,537,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in PayPal by 144.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,059,341 shares of the credit services provider’s stock valued at $175,765,000 after purchasing an additional 1,217,694 shares during the period. Institutional investors own 68.32% of the company’s stock.

Insider Activity

In related 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 value of $176,478.90. Following the sale, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Susquehanna lifted 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. Morgan Stanley increased their price target on PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of PayPal in a research report on Wednesday, February 5th. Macquarie boosted their price objective on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Finally, Wolfe Research upgraded shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price on the stock in a report on Friday, December 13th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.13.

PayPal Stock Performance

NASDAQ PYPL opened at $58.37 on Monday. The firm has a market capitalization of $57.74 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. 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 firm’s fifty day moving average price is $73.65 and its two-hundred day moving average price is $80.63. PayPal Holdings, Inc. has a 1 year low of $56.32 and a 1 year high of $93.66.

PayPal (NASDAQ:PYPL) last issued its earnings results 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 company had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the firm earned $1.48 EPS. PayPal’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, research analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current 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.