Arnhold LLC Takes $8.85 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Arnhold LLC acquired a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 144,113 shares of the credit services provider’s stock, valued at approximately $8,850,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB boosted its stake in PayPal by 420.6% in the third quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock worth $190,371,000 after purchasing an additional 2,616,774 shares in the last quarter. FMR LLC increased its position in PayPal by 29.5% in the 3rd quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after acquiring an additional 1,575,930 shares in the last quarter. LSV Asset Management lifted its position in shares of PayPal by 271.6% during the third quarter. LSV Asset Management now owns 1,533,300 shares of the credit services provider’s stock worth $89,637,000 after purchasing an additional 1,120,700 shares in the last quarter. Morgan Stanley grew its stake in shares of PayPal by 4.5% during the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after purchasing an additional 873,181 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of PayPal by 56.5% in the third quarter. Envestnet Asset Management Inc. now owns 2,395,312 shares of the credit services provider’s stock valued at $140,030,000 after purchasing an additional 864,684 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Trading Up 1.4 %

Shares of PayPal stock traded up $0.93 during midday trading on Tuesday, reaching $67.92. The company had a trading volume of 43,146,336 shares, compared to its average volume of 16,583,006. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $76.54. The stock has a fifty day moving average price of $63.21 and a 200 day moving average price of $60.35. The firm has a market cap of $71.50 billion, a PE ratio of 17.69, a P/E/G ratio of 1.23 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.14). The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 EPS. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 4.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PYPL shares. Canaccord Genuity Group lowered their price objective on PayPal from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Oppenheimer restated a “market perform” rating on shares of PayPal in a report on Thursday, January 25th. Morgan Stanley reissued an “equal weight” rating and issued a $66.00 price objective (down previously from $118.00) on shares of PayPal in a research report on Tuesday, January 9th. UBS Group lifted their price target on PayPal from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Finally, Monness Crespi & Hardt raised their price objective on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday. Twenty-four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, PayPal has a consensus rating of “Hold” and a consensus target price of $70.72.

Insider Buying and Selling

In related news, SVP Frank Keller sold 7,686 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the transaction, the senior vice president now directly owns 23,430 shares in the company, valued at approximately $1,420,795.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is owned by company insiders.

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.