PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Purchased by Independence Bank of Kentucky

Independence Bank of Kentucky increased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 1,194.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,330 shares of the credit services provider’s stock after purchasing an additional 2,150 shares during the period. Independence Bank of Kentucky’s holdings in PayPal were worth $143,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. State Street Corp raised its position in shares of PayPal by 0.9% during the 2nd quarter. State Street Corp now owns 45,846,969 shares of the credit services provider’s stock worth $3,059,368,000 after purchasing an additional 423,625 shares during the last quarter. Geode Capital Management LLC raised its position in shares of PayPal by 1.1% during the 1st quarter. Geode Capital Management LLC now owns 20,947,345 shares of the credit services provider’s stock worth $1,586,966,000 after purchasing an additional 235,651 shares during the last quarter. Morgan Stanley raised its position in shares of PayPal by 4.5% during the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after purchasing an additional 873,181 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of PayPal by 110,462.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock worth $1,220,431,000 after purchasing an additional 17,120,572 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of PayPal during the 4th quarter worth approximately $1,022,333,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Up 1.1 %

Shares of NASDAQ PYPL opened at $65.34 on Thursday. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $77.95. The company has a market cap of $70.03 billion, a P/E ratio of 17.02, a P/E/G ratio of 1.46 and a beta of 1.45. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average price of $61.60 and a 200 day moving average price of $59.46.

PayPal (NASDAQ:PYPLGet Free Report) last announced its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.12. The company had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm earned $1.01 earnings per share. Research analysts anticipate that PayPal Holdings, Inc. will post 3.95 EPS for the current fiscal year.

Insider Activity

In other news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of the sale, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PYPL. JPMorgan Chase & Co. cut their price objective on PayPal from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, February 8th. Susquehanna boosted their price target on PayPal from $61.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. JMP Securities reiterated a “market outperform” rating and issued a $68.00 price target on shares of PayPal in a report on Thursday, February 8th. Bank of America downgraded PayPal from a “buy” rating to a “neutral” rating and cut their price target for the company from $77.00 to $66.00 in a report on Wednesday, December 6th. Finally, Daiwa Capital Markets downgraded PayPal from an “outperform” rating to a “neutral” rating and cut their price target for the company from $64.00 to $62.00 in a report on Tuesday, February 13th. Twenty-four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.47.

Read Our Latest Analysis on PayPal

PayPal Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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