Gulf International Bank UK Ltd Raises Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Gulf International Bank UK Ltd grew its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,426 shares of the credit services provider’s stock after buying an additional 424 shares during the quarter. Gulf International Bank UK Ltd’s holdings in PayPal were worth $5,856,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Morgan Stanley lifted its stake in shares of PayPal by 4.5% during the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after purchasing an additional 873,181 shares during the last quarter. Norges Bank purchased a new stake in PayPal in the fourth quarter valued at about $749,561,000. Northern Trust Corp raised its stake in PayPal by 0.7% in the third quarter. Northern Trust Corp now owns 11,767,054 shares of the credit services provider’s stock valued at $687,902,000 after buying an additional 78,105 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in PayPal by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock valued at $428,449,000 after buying an additional 265,116 shares during the last quarter. Finally, Atreides Management LP raised its stake in PayPal by 9.3% in the third quarter. Atreides Management LP now owns 4,174,520 shares of the credit services provider’s stock valued at $244,042,000 after buying an additional 355,411 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Deborah M. Messemer sold 4,422 shares of PayPal stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the transaction, the director now owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

PYPL has been the subject of a number of research analyst reports. UBS Group increased their price target on PayPal from $63.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Citigroup increased their price target on PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, June 10th. BMO Capital Markets increased their price objective on PayPal from $64.00 to $65.00 and gave the company a “market perform” rating in a report on Wednesday, May 1st. TD Cowen increased their price objective on PayPal from $58.00 to $68.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Tuesday, April 30th. Twenty investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.82.

PayPal Stock Performance

NASDAQ PYPL opened at $60.61 on Friday. The company has a market cap of $63.40 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 0.98 and a beta of 1.43. The stock’s 50 day simple moving average is $63.60 and its 200-day simple moving average is $62.44. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $76.54. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.28.

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