IFM Investors Pty Ltd Raises Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

IFM Investors Pty Ltd raised its position in PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) by 20.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 176,862 shares of the credit services provider’s stock after buying an additional 30,306 shares during the quarter. IFM Investors Pty Ltd’s holdings in PayPal were worth $20,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in PayPal during the fourth quarter worth $1,873,879,000. Bank of Montreal Can grew its holdings in PayPal by 123.0% during the fourth quarter. Bank of Montreal Can now owns 8,051,183 shares of the credit services provider’s stock worth $2,334,845,000 after acquiring an additional 4,440,194 shares during the period. Fisher Asset Management LLC grew its holdings in PayPal by 20.6% in the fourth quarter. Fisher Asset Management LLC now owns 14,468,988 shares of the credit services provider’s stock valued at $2,728,562,000 after purchasing an additional 2,476,199 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in PayPal by 66,379.2% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,382,103 shares of the credit services provider’s stock valued at $260,637,000 after purchasing an additional 1,380,024 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in PayPal by 14.7% in the fourth quarter. Alliancebernstein L.P. now owns 10,280,330 shares of the credit services provider’s stock valued at $1,938,665,000 after purchasing an additional 1,315,555 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

PayPal Trading Up 0.8 %

Shares of NASDAQ PYPL opened at $86.53 on Monday. PayPal Holdings, Inc. has a 12-month low of $67.58 and a 12-month high of $296.70. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.40. The company has a market cap of $100.21 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 1.81 and a beta of 1.44. The stock’s 50 day simple moving average is $77.87 and its 200 day simple moving average is $100.03.

Analysts Set New Price Targets

Several analysts have weighed in on PYPL shares. DA Davidson lowered their target price on PayPal from $166.00 to $144.00 in a report on Tuesday, April 26th. Mizuho lowered their target price on PayPal from $175.00 to $120.00 in a report on Monday, May 2nd. Redburn Partners lowered PayPal from a “buy” rating to a “neutral” rating in a research note on Friday, July 8th. Piper Sandler decreased their price objective on PayPal from $140.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 6th. Finally, StockNews.com lowered PayPal from a “hold” rating to a “sell” rating in a research note on Saturday, June 4th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.16.

Insider Activity

In other news, EVP Peggy Alford sold 14,767 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $85.32, for a total value of $1,259,920.44. Following the sale, the executive vice president now directly owns 39,891 shares in the company, valued at approximately $3,403,500.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Enrique Lores acquired 1,100 shares of PayPal stock in a transaction on Wednesday, May 4th. The shares were purchased at an average price of $88.13 per share, with a total value of $96,943.00. Following the acquisition, the director now owns 5,235 shares in the company, valued at $461,360.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Peggy Alford sold 14,767 shares of the company’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $85.32, for a total value of $1,259,920.44. Following the transaction, the executive vice president now directly owns 39,891 shares in the company, valued at approximately $3,403,500.12. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

About PayPal

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PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company's payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 100 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.

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