Handelsbanken Fonder AB Purchases 46,380 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Handelsbanken Fonder AB grew its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 395,145 shares of the credit services provider’s stock after purchasing an additional 46,380 shares during the quarter. Handelsbanken Fonder AB’s holdings in PayPal were worth $33,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in PYPL. Relyea Zuckerberg Hanson LLC boosted its position in PayPal by 113.8% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock worth $638,000 after purchasing an additional 3,976 shares during the period. World Investment Advisors LLC purchased a new stake in shares of PayPal during the 3rd quarter valued at approximately $387,435,000. United Advisor Group LLC bought a new position in PayPal in the 3rd quarter worth approximately $810,000. FCG Investment Co purchased a new position in PayPal in the 3rd quarter valued at approximately $1,079,000. Finally, Equity Investment Corp raised its holdings in PayPal by 3.5% during the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after acquiring an additional 67,497 shares during the period. Institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PYPL shares. UBS Group lifted their price target on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Macquarie lifted their target price on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a report on Monday, February 10th. The Goldman Sachs Group increased their price target on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Piper Sandler boosted their price objective on shares of PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Finally, Phillip Securities reiterated an “accumulate” rating and issued a $90.00 target price (up from $80.00) on shares of PayPal in a research note on Friday, November 1st. Thirteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.52.

PayPal Stock Down 0.9 %

PYPL opened at $77.63 on Friday. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66. 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 business’s 50-day moving average price is $85.73 and its 200-day moving average price is $80.55. The company has a market cap of $76.79 billion, a P/E ratio of 19.36, a P/E/G ratio of 1.29 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced 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 for the quarter, compared to analysts’ expectations of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.48 EPS. On average, equities analysts expect 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.