Cibc World Markets Corp Trims Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Cibc World Markets Corp reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 18.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 178,949 shares of the credit services provider’s stock after selling 39,892 shares during the quarter. Cibc World Markets Corp’s holdings in PayPal were worth $15,273,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PYPL. FMR LLC boosted its position in 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 buying an additional 7,767,072 shares during the period. World Investment Advisors LLC purchased a new stake in shares of PayPal in the third quarter valued at approximately $387,435,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of 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 purchasing an additional 2,689,162 shares during the period. Raymond James Financial Inc. purchased a new position in PayPal during the 4th quarter worth $135,537,000. Finally, Primecap Management Co. CA raised its position in PayPal by 21.6% during 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 in the last quarter. 68.32% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the sale, the director now directly owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

PayPal Price Performance

NASDAQ:PYPL opened at $69.65 on Tuesday. The firm’s fifty day moving average is $79.56 and its two-hundred day moving average is $80.99. The firm has a market cap of $68.90 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 1.27 and a beta of 1.52. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. PayPal Holdings, Inc. has a one year low of $56.97 and a one year high of $93.66.

PayPal (NASDAQ:PYPL) last issued its 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 firm had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.48 earnings per share. Research analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Analyst Upgrades and Downgrades

PYPL has been the topic of several research reports. Citigroup restated an “outperform” rating on shares of PayPal in a research note on Wednesday, February 5th. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Susquehanna lifted their price objective on shares of PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a report on Monday, January 6th. Finally, Barclays increased their target price on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $90.03.

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.