PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 325,270 shares of the credit services provider’s stock after buying an additional 5,591 shares during the quarter. CIBC Asset Management Inc’s holdings in PayPal were worth $27,762,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mizuho Securities USA LLC increased its position in shares of PayPal by 12,919.4% during the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after acquiring an additional 10,419,351 shares during the last quarter. FMR LLC increased its stake in shares of PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after buying an additional 7,767,072 shares during the period. World Investment Advisors LLC acquired a new stake in shares of PayPal in the 3rd quarter valued at $387,435,000. Robeco Institutional Asset Management B.V. raised its position in shares of PayPal by 174.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after acquiring an additional 2,689,162 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of PayPal by 9,864.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock worth $87,336,000 after buying an additional 1,108,030 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $77.97 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.25. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66. The company has a market capitalization of $77.13 billion, a PE ratio of 19.44, a PEG ratio of 1.29 and a beta of 1.44. The business has a fifty day moving average price of $86.42 and a 200-day moving average price of $80.36.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of PayPal from $90.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Piper Sandler lifted their price target on PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $103.00 in a report on Monday, December 9th. Finally, Phillip Securities restated an “accumulate” rating and issued a $90.00 price target (up previously from $80.00) on shares of PayPal in a report on Friday, November 1st. Thirteen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.52.

PayPal Company 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.