Geode Capital Management LLC recently announced the acquisition of new stake in PayPal Holdings Inc (NASDAQ:PYPL). The institutional investor has increased its shareholding in the Financial company by 0.21% to 21.17 million shares with purchase of 45266.0 shares. This fresh investment now brings its stake to 1.96% valued currently at $1.22 billion. In addition, Norges Bank Investment Management raised its holdings by 1.14 million to 14.35 million shares. And Northern Trust Investments, Inc. has lifted its position by 0.42% or 44136.0 shares – to 10.43 million shares.
With over 17.4 million PayPal Holdings Inc (PYPL) shares trading Friday and a closing price of $60.12 on the day, the dollar volume was approximately $1.05 billion. The shares have shown a negative half year performance of -9.99% and its price on 01/05/24 gained nearly 2.86%. Currently, there are 1.14B common shares owned by the public and among those 1.07B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 47 analysts who have offered their price forecasts for PYPL have a consensus price objective of $73.99. The analysts have set the share’s price value over the next 12 months at a high of $120.00 and a low of $50.00. The average price target is 18.75% above its recent price level and a downside to the estimated low will see the stock lose -20.24% over that period. But an upside of 49.9% will see the stock hit the forecast high price target while median target price for the stock is $70.00.
Insiders at the company have transacted a total of 92 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 61 of these insider trades were purchases, accounting for 809,928 shares. Insider sales of the common stock occurred on 31 occasions, with total insider shares sold totaling 372,847 shares.
The top 3 mutual fund holders in PayPal Holdings Inc are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Invesco QQQ Trust. Vanguard Total Stock Market ETF owns 34.4 million shares of the company’s stock, all valued at over $1.98 billion. The company bought an additional 41617.0 shares recently to bring their total holdings to about 3.19% of the shares outstanding. Vanguard 500 Index Fund bought 0.13 million shares to see its total holdings expand to 26.51 million shares valued at over $1.53 billion and representing 2.46% of the shares outstanding. Invesco QQQ Trust sold 64790.0 shares to bring its total holdings to over 19.1 million shares at a value of $1.1 billion. Invesco QQQ Trust now owns shares totaling to 1.77% of the shares outstanding.
Shares of PayPal Holdings Inc (NASDAQ: PYPL) opened at $57.74, down -$0.71 from a prior closing price of $58.45. However, the script later moved the day high at 60.37, up 2.86%. The company’s stock has a 5-day price change of -4.69% and 4.59% over the past three months. PYPL shares are trading -2.10% year to date (YTD), with the 12-month market performance down to -22.62% lower. It has a 12-month low price of $50.25 and touched a high of $88.62 over the same period. PYPL has an average intraday trading volume of 15.96 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.29%, 4.37%, and -5.95% respectively.
Institutional ownership of PayPal Holdings Inc (NASDAQ: PYPL) shares accounts for 69.09% of the company’s 1.14B shares outstanding. Mutual fund holders own 35.29%, while other institutional holders and individual stakeholders account for 6.74% and 34.37% respectively.
It has a market capitalization of $64.82B and a beta (3y monthly) value of 1.47. The stock’s trailing 12-month PE ratio is 17.90, while the earnings-per-share (ttm) stands at $3.36. The company has a PEG of 0.97 and a Quick Ratio of 1.30 with the debt-to-equity ratio at 0.57. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.57% over the week and 2.86% over the month.
Analysts forecast that PayPal Holdings Inc (PYPL) will achieve an EPS of $1.36 for the current quarter, $1.29 for the next quarter and $5.53 for 2024. The lowest estimate earnings-per-share for the quarter is $1.35 while analysts give the company a high EPS estimate of $1.39. Comparatively, EPS for the current quarter was $1.24 a year ago. Earnings per share for the fiscal year are expected to increase by 20.57%, and 11.55% over the next financial year. EPS should grow at an annualized rate of 18.38% over the next five years, compared to 7.28% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 47 brokerage firm advisors rate PayPal Holdings Inc (PYPL) as a “Moderate Buy” at a consensus score of 2.04. Specifically, 22 Wall Street analysts polled rate the stock as a buy, while 21 of the 47 advise that investors “hold,” and 1 rated it as a “Sell.”
