Geode Capital Management LLC Buys 271,836 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Geode Capital Management LLC increased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,736,394 shares of the credit services provider’s stock after acquiring an additional 271,836 shares during the quarter. Geode Capital Management LLC owned about 2.20% of PayPal worth $1,849,884,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of PayPal in the fourth quarter worth about $1,086,508,000. Artisan Partners Limited Partnership grew its position in shares of PayPal by 284.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock valued at $666,100,000 after purchasing an additional 5,772,198 shares during the period. Charles Schwab Investment Management Inc. increased its stake in PayPal by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,615,476 shares of the credit services provider’s stock worth $564,631,000 after purchasing an additional 84,337 shares in the last quarter. World Investment Advisors LLC acquired a new stake in PayPal during the 3rd quarter worth approximately $387,435,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in PayPal by 174.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after buying an additional 2,689,162 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PYPL shares. StockNews.com downgraded shares of PayPal from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Sandler lowered their target price on PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price target on shares of PayPal in a report on Thursday, December 12th. Arete Research downgraded PayPal from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Sixteen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.40.

PayPal Stock Performance

PYPL opened at $66.10 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $65.39 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The business has a fifty day simple moving average of $75.28 and a 200 day simple moving average of $80.83. PayPal Holdings, Inc. has a 1 year low of $56.97 and a 1 year high of $93.66.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results 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 business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the prior year, the company posted $1.48 earnings per share. PayPal’s revenue was up 4.2% compared to the same quarter last year. Research analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was 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 directly owns 29,734 shares in the company, 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 filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

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.