Zurcher Kantonalbank Zurich Cantonalbank Has $27.87 Million Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 453,793 shares of the credit services provider’s stock after purchasing an additional 16,022 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PayPal were worth $27,867,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new stake in PayPal in the 4th quarter valued at about $9,267,000. Bartlett & Co. LLC increased its position in PayPal by 8.5% in the 4th quarter. Bartlett & Co. LLC now owns 9,414 shares of the credit services provider’s stock valued at $594,000 after acquiring an additional 740 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in PayPal by 9.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 847,006 shares of the credit services provider’s stock valued at $53,344,000 after acquiring an additional 73,687 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of PayPal by 4.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 20,242 shares of the credit services provider’s stock valued at $1,183,000 after purchasing an additional 942 shares during the last quarter. Finally, Bellecapital International Ltd. boosted its stake in shares of PayPal by 2.0% in the 4th quarter. Bellecapital International Ltd. now owns 21,685 shares of the credit services provider’s stock valued at $1,332,000 after purchasing an additional 433 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PYPL shares. Mizuho reduced their target price on shares of PayPal from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 target price on shares of PayPal in a research note on Thursday, February 8th. Wedbush reaffirmed an “outperform” rating and issued a $85.00 target price on shares of PayPal in a research note on Thursday, February 8th. Monness Crespi & Hardt reduced their target price on shares of PayPal from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Finally, Daiwa Capital Markets lowered shares of PayPal from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $64.00 to $62.00 in a research note on Tuesday, February 13th. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, PayPal presently has a consensus rating of “Hold” and a consensus target price of $70.47.

Insider Activity

In related news, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction on Friday, March 1st. The shares were 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 in the company, valued at $1,420,795.20. The sale was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is owned by corporate insiders.

PayPal Price Performance

NASDAQ PYPL opened at $63.82 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $77.94. The company has a market capitalization of $67.18 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 1.44 and a beta of 1.45. The firm’s 50 day moving average is $62.15 and its 200-day moving average is $59.86.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same period last year, the company earned $1.01 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that PayPal Holdings, Inc. will post 3.93 earnings per share for the current fiscal year.

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.