KLP Kapitalforvaltning AS Invests $37.27 Million in PayPal Holdings, Inc. (NASDAQ:PYPL)

KLP Kapitalforvaltning AS acquired a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 436,645 shares of the credit services provider’s stock, valued at approximately $37,268,000.

A number of other hedge funds also recently bought and sold shares of the company. Park Place Capital Corp boosted its position in shares of PayPal by 6.6% during the 4th quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider’s stock valued at $161,000 after acquiring an additional 116 shares during the last quarter. Rosenberg Matthew Hamilton lifted its position in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 125 shares during the last quarter. JFS Wealth Advisors LLC grew its stake in shares of PayPal by 33.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 502 shares of the credit services provider’s stock worth $43,000 after buying an additional 125 shares in the last quarter. Wynn Capital LLC increased its holdings in shares of PayPal by 1.1% in the 4th quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider’s stock worth $983,000 after buying an additional 130 shares during the last quarter. Finally, Avalon Trust Co raised its position in shares of PayPal by 7.0% during the 4th quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider’s stock valued at $176,000 after buying an additional 135 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

NASDAQ PYPL opened at $70.19 on Friday. The firm’s fifty day simple moving average is $78.19 and its two-hundred day simple moving average is $80.80. The firm has a market capitalization of $69.43 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.27 and a beta of 1.52. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a 12-month low of $56.97 and a 12-month high of $93.66.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $8.37 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.48 earnings per share. Analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Activity

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

PYPL has been the topic of several analyst reports. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Wells Fargo & Company restated an “equal weight” rating on shares of PayPal in a report on Wednesday, February 5th. Morgan Stanley lifted their price objective on shares of PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. BTIG Research reissued a “neutral” rating on shares of PayPal in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price target on shares of PayPal in a research note on Thursday, December 12th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and an average target price of $90.03.

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.