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 $1.3 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.
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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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 33.87 million shares of the company’s stock, all valued at over $2.08 billion. The company sold -0.53 million shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund sold -0.44 million shares to see its total holdings shrink to 26.33 million shares valued at over $1.62 billion and representing 2.44% of the shares outstanding. Invesco QQQ Trust sold 50895.0 shares to bring its total holdings to over 19.83 million shares at a value of $1.22 billion. Invesco QQQ Trust now owns shares totaling to 1.84% of the shares outstanding.
The company’s stock has a 5-day price change of 7.29% and 17.96% over the past three months. PYPL shares are trading 7.18% year to date (YTD), with the 12-month market performance down to -14.86% 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 16.59 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 7.59%, 11.44%, and 3.96% respectively.
Institutional ownership of PayPal Holdings Inc (NASDAQ: PYPL) shares accounts for 68.39% of the company’s 1.14B shares outstanding. Mutual fund holders own 34.46%, while other institutional holders and individual stakeholders account for 6.74% and 34.45% respectively.
It has a market capitalization of $70.96B and a beta (3y monthly) value of 1.47. The stock’s trailing 12-month PE ratio is 19.60, while the earnings-per-share (ttm) stands at $3.36. The company has a PEG of 1.07 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 4.42% over the week and 3.05% over the month.
Analysts forecast that PayPal Holdings Inc (PYPL) will achieve an EPS of $1.36 for the current quarter, $1.28 for the next quarter and $5.49 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 20.54%, and 10.94% 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.
Looking at the support for the PYPL, a number of firms have released research notes about the stock. Mizuho stated their Neutral rating for the stock in a research note on January 16, 2024, with the firm’s price target at $72-$65.
