Northern Trust Corp Purchases 1,669,908 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Northern Trust Corp boosted its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,462,251 shares of the credit services provider’s stock after purchasing an additional 1,669,908 shares during the quarter. Northern Trust Corp owned about 1.06% of PayPal worth $892,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Relyea Zuckerberg Hanson LLC raised its stake in shares of PayPal by 113.8% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock worth $638,000 after acquiring an additional 3,976 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its holdings in PayPal by 2.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider’s stock valued at $59,489,000 after acquiring an additional 18,172 shares in the last quarter. ExodusPoint Capital Management LP increased its position in shares of PayPal by 223.1% during the fourth quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider’s stock valued at $22,622,000 after buying an additional 183,011 shares during the period. StoneX Group Inc. raised its stake in PayPal by 70.4% in the fourth quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider’s stock worth $2,326,000 after buying an additional 11,260 shares in the last quarter. Finally, Fortem Financial Group LLC raised its stake in PayPal by 28.0% in the fourth quarter. Fortem Financial Group LLC now owns 33,302 shares of the credit services provider’s stock worth $2,842,000 after buying an additional 7,291 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of PayPal 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 transaction, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

PayPal Stock Performance

NASDAQ PYPL opened at $64.93 on Tuesday. The stock has a market capitalization of $63.46 billion, a PE ratio of 16.19, a P/E/G ratio of 1.27 and a beta of 1.60. 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 business has a 50 day simple moving average of $66.49 and a two-hundred day simple moving average of $78.47. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66.

PayPal (NASDAQ:PYPL) last announced 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 during the quarter, compared to analysts’ expectations of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.48 EPS. On average, research analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on PYPL. Compass Point started coverage on shares of PayPal in a research note on Wednesday, April 23rd. They issued a “sell” rating and a $56.00 price target for the company. Keefe, Bruyette & Woods reduced their price target on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, March 31st. Citigroup reissued an “outperform” rating on shares of PayPal in a research report on Wednesday, February 5th. Arete Research set a $81.00 target price on shares of PayPal in a report on Thursday, March 27th. Finally, Seaport Res Ptn cut shares of PayPal from a “hold” rating to a “strong sell” rating in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.88.

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.