Richelieu Gestion SA Takes Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Richelieu Gestion SA bought a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,000 shares of the credit services provider’s stock, valued at approximately $134,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in PayPal during the 4th quarter valued at approximately $749,561,000. The Manufacturers Life Insurance Company grew its holdings in PayPal by 125.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after buying an additional 958,130 shares in the last quarter. Morgan Stanley increased its stake in PayPal by 4.5% in the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after acquiring an additional 873,181 shares during the last quarter. Boston Partners raised its holdings in shares of PayPal by 4,024.5% during the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock worth $48,099,000 after acquiring an additional 764,258 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its position in PayPal by 1,309.2% in the fourth quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock worth $49,168,000 after purchasing an additional 743,833 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Deborah M. Messemer sold 4,422 shares of PayPal stock in a transaction on Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the completion of the transaction, the director now directly owns 13,976 shares in the company, valued at $861,620.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.14% of the stock is owned by company insiders.

PayPal Trading Down 2.0 %

Shares of NASDAQ PYPL traded down $1.21 during trading on Wednesday, reaching $58.12. The stock had a trading volume of 7,644,950 shares, compared to its average volume of 14,916,266. The business’s 50-day moving average price is $63.44 and its 200-day moving average price is $62.47. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $76.54. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market cap of $60.80 billion, a P/E ratio of 14.75, a PEG ratio of 0.97 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter last year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts predict that PayPal Holdings, Inc. will post 4.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PYPL shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 price target on shares of PayPal in a research note on Thursday, June 13th. JMP Securities upped their price objective on PayPal from $70.00 to $82.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 1st. Robert W. Baird increased their target price on PayPal from $70.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Royal Bank of Canada boosted their price objective on shares of PayPal from $74.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, Sanford C. Bernstein lifted their price target on shares of PayPal from $66.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Twenty-one equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, PayPal has an average rating of “Hold” and an average target price of $73.64.

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.