Allspring Global Investments Holdings LLC Has $12.11 Million Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Allspring Global Investments Holdings LLC boosted its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 25.5% in the fourth quarter, Holdings Channel reports. The firm owned 197,153 shares of the credit services provider’s stock after purchasing an additional 40,086 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PayPal were worth $12,107,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortem Financial Group LLC lifted its holdings in shares of PayPal by 41.8% during the 4th quarter. Fortem Financial Group LLC now owns 16,162 shares of the credit services provider’s stock worth $993,000 after acquiring an additional 4,762 shares during the period. Narus Financial Partners LLC lifted its stake in PayPal by 15.5% during the fourth quarter. Narus Financial Partners LLC now owns 5,258 shares of the credit services provider’s stock worth $323,000 after purchasing an additional 704 shares during the last quarter. Confluence Wealth Services Inc. boosted its holdings in shares of PayPal by 3.6% in the 4th quarter. Confluence Wealth Services Inc. now owns 6,240 shares of the credit services provider’s stock valued at $383,000 after purchasing an additional 219 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of PayPal by 11.1% in the 4th quarter. International Assets Investment Management LLC now owns 10,716 shares of the credit services provider’s stock valued at $658,000 after purchasing an additional 1,073 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new position in shares of PayPal during the 4th quarter worth $203,000. Institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

Shares of PYPL opened at $63.51 on Tuesday. The firm has a market cap of $66.85 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.47 and a beta of 1.45. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $77.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29. The business’s 50 day moving average price is $62.16 and its two-hundred day moving average price is $59.83.

PayPal (NASDAQ:PYPL) last issued its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.12. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. PayPal’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 3.93 EPS for the current year.

Insider Transactions at PayPal

In related news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the transaction, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

PYPL has been the topic of a number of recent analyst reports. Monness Crespi & Hardt decreased their target price on PayPal from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Susquehanna increased their price objective on shares of PayPal from $61.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $74.00 target price on shares of PayPal in a research note on Thursday, March 21st. Stephens reiterated an “equal weight” rating and issued a $70.00 price target on shares of PayPal in a research note on Thursday, February 8th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $66.00 price objective (down previously from $118.00) on shares of PayPal in a report on Tuesday, January 9th. Twenty-three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $70.47.

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.