Allianz SE Acquires New Shares in PayPal Holdings, Inc. (NASDAQ:PYPL)

Allianz SE bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,946 shares of the credit services provider’s stock, valued at approximately $679,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank acquired a new position in PayPal during the 4th quarter worth approximately $1,086,508,000. Artisan Partners Limited Partnership grew its stake in shares of 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 during the last quarter. World Investment Advisors LLC acquired a new position in shares of PayPal during the third quarter worth $387,435,000. Robeco Institutional Asset Management B.V. lifted its stake 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 last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of PayPal in the 4th quarter valued at $135,537,000. Institutional investors own 68.32% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction 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 sale, the director now owns 29,734 shares in the company, valued at $2,145,308.10. This represents a 7.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

PayPal Price Performance

Shares of PYPL opened at $65.15 on Monday. The business’s fifty day moving average is $76.28 and its 200 day moving average is $80.90. PayPal Holdings, Inc. has a 12-month low of $56.97 and a 12-month high of $93.66. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market cap of $64.45 billion, a P/E ratio of 16.25, a P/E/G ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The firm had revenue of $8.37 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $1.48 earnings per share. Sell-side analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Piper Sandler reduced their price objective on PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Royal Bank of Canada restated an “outperform” rating and set a $100.00 price target on shares of PayPal in a report on Thursday, December 12th. Citigroup reaffirmed an “outperform” rating on shares of PayPal in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods lifted their target price on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Morgan Stanley upped their price target on shares of PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Sixteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $90.03.

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.