Harvest Fund Management Co. Ltd Increases Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Harvest Fund Management Co. Ltd grew its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 46.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 90,623 shares of the credit services provider’s stock after buying an additional 28,817 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in PayPal were worth $7,709,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Rosenberg Matthew Hamilton raised its position in PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after buying an additional 125 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PayPal in the 3rd quarter valued at about $26,000. Sugarloaf Wealth Management LLC increased its holdings in shares of PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 272 shares in the last quarter. Modus Advisors LLC purchased a new position in shares of PayPal in the 4th quarter valued at about $37,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of PayPal in the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Trading Down 1.1 %

PYPL opened at $68.88 on Wednesday. The firm has a market capitalization of $68.14 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.27 and a beta of 1.52. The firm’s 50 day moving average is $79.18 and its 200-day moving average is $80.97. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.48 earnings per share. Analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PYPL shares. Citigroup reiterated an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of PayPal in a report on Tuesday, February 4th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and increased their price objective for the company from $86.00 to $103.00 in a research note on Monday, December 9th. Susquehanna increased their price objective on shares of PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price objective on shares of PayPal in a research note on Thursday, December 12th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.03.

Insider Activity

In other news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction that occurred on Thursday, February 27th. The shares were 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 $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

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.