Clare Market Investments LLC Makes New $966,000 Investment in PayPal Holdings, Inc. (NASDAQ:PYPL)

Clare Market Investments LLC acquired a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,318 shares of the credit services provider’s stock, valued at approximately $966,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in shares of PayPal by 86.3% in the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after purchasing an additional 7,767,072 shares during the last quarter. Mizuho Securities USA LLC boosted its stake in shares of PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after purchasing an additional 10,419,351 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of PayPal by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,615,476 shares of the credit services provider’s stock valued at $564,631,000 after purchasing an additional 84,337 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of PayPal by 21.6% in the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after purchasing an additional 1,069,356 shares during the last quarter. Finally, World Investment Advisors LLC bought a new position in shares of PayPal in the 3rd quarter valued at about $387,435,000. Institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PYPL. Morgan Stanley raised their target price on shares of PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Piper Sandler reduced their target price on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Keefe, Bruyette & Woods raised their target price on shares of PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company reissued an “equal weight” rating on shares of PayPal in a research note on Wednesday, February 5th. Finally, Susquehanna lifted their price objective on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research note on Monday, January 6th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.03.

Insider Buying and Selling at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the sale, the director now owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

PayPal Price Performance

Shares of PYPL opened at $70.48 on Monday. The company has a market cap of $69.72 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66. The company’s fifty day simple moving average is $81.75 and its 200 day simple moving average is $81.13. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the company earned $1.48 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts forecast 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.