PayPal Holdings, Inc. (NASDAQ:PYPL) Position Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 453,793 shares of the credit services provider’s stock after acquiring an additional 16,022 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PayPal were worth $27,867,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Octavia Wealth Advisors LLC lifted its position in shares of PayPal by 7.4% in the 4th quarter. Octavia Wealth Advisors LLC now owns 3,807 shares of the credit services provider’s stock worth $234,000 after buying an additional 261 shares during the last quarter. SVB Wealth LLC lifted its position in shares of PayPal by 15.2% in the 4th quarter. SVB Wealth LLC now owns 13,985 shares of the credit services provider’s stock worth $859,000 after buying an additional 1,846 shares during the last quarter. LifePlan Financial LLC bought a new position in shares of PayPal in the 4th quarter worth about $1,266,000. VELA Investment Management LLC lifted its position in shares of PayPal by 27.1% in the 4th quarter. VELA Investment Management LLC now owns 11,755 shares of the credit services provider’s stock worth $722,000 after buying an additional 2,508 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of PayPal by 136.1% in the 4th quarter. Mackenzie Financial Corp now owns 285,579 shares of the credit services provider’s stock worth $17,537,000 after buying an additional 164,608 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

Insider Transactions at PayPal

In related news, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the transaction, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PYPL shares. Argus downgraded shares of PayPal from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Mizuho dropped their price objective on shares of PayPal from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, February 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $66.00 price objective (down previously from $118.00) on shares of PayPal in a report on Tuesday, January 9th. Citigroup dropped their price objective on shares of PayPal from $76.00 to $73.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Finally, Evercore ISI increased their price objective on shares of PayPal from $56.00 to $60.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, PayPal presently has a consensus rating of “Hold” and a consensus price target of $70.47.

PayPal Stock Performance

NASDAQ:PYPL opened at $63.82 on Wednesday. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $77.94. 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 company has a 50-day moving average of $62.15 and a 200-day moving average of $59.86. The firm has a market cap of $67.18 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 1.44 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last released its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.12. The business had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. Analysts forecast that PayPal Holdings, Inc. will post 3.93 earnings per share for the current fiscal year.

PayPal 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.