PayPal Holdings, Inc. (NASDAQ:PYPL) Stock Position Trimmed by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lessened its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,506,764 shares of the credit services provider’s stock after selling 234,280 shares during the period. PayPal accounts for 60.0% of Loomis Sayles & Co. L P’s portfolio, making the stock its 29th biggest holding. Loomis Sayles & Co. L P owned about 0.66% of PayPal worth $555,352,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. FMR LLC boosted its position in shares of PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after buying an additional 7,767,072 shares during the period. Artisan Partners Limited Partnership increased its holdings in shares of PayPal by 284.0% during 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. World Investment Advisors LLC bought a new position in PayPal in the 3rd quarter worth $387,435,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of 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 during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in PayPal during the fourth quarter worth about $135,537,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Insider Buying and Selling

In other PayPal 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wolfe Research raised PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective on the stock in a report on Friday, December 13th. Piper Sandler lowered their price target on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Finally, DZ Bank raised PayPal from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research report on Friday, February 28th. Fourteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, PayPal has an average rating of “Moderate Buy” and an average price target of $90.03.

PayPal Trading Down 1.3 %

NASDAQ PYPL opened at $69.97 on Thursday. 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 business has a 50 day moving average price of $77.21 and a 200-day moving average price of $80.85. PayPal Holdings, Inc. has a 52 week low of $56.97 and a 52 week high of $93.66. The company has a market cap of $69.22 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.27 and a beta of 1.52.

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