Black Creek Investment Management Inc. Has $246.06 Million Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Black Creek Investment Management Inc. reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,240,192 shares of the credit services provider’s stock after selling 340,116 shares during the period. PayPal accounts for approximately 9.2% of Black Creek Investment Management Inc.’s holdings, making the stock its 5th largest holding. Black Creek Investment Management Inc. owned about 0.41% of PayPal worth $246,058,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PYPL. Norges Bank bought a new position in PayPal during the fourth quarter worth about $749,561,000. The Manufacturers Life Insurance Company boosted its position in PayPal by 125.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after acquiring an additional 958,130 shares during the last quarter. Clearbridge Investments LLC grew its position in PayPal by 15.8% in the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after purchasing an additional 904,804 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of PayPal by 31.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock valued at $194,262,000 after acquiring an additional 687,940 shares during the last quarter. Finally, Swedbank AB acquired a new position in PayPal during the first quarter valued at approximately $42,297,000. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Price Performance

Shares of PYPL opened at $70.10 on Monday. The firm has a market cap of $71.67 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 0.99 and a beta of 1.43. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $74.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The business’s 50 day moving average price is $65.55 and its two-hundred day moving average price is $63.95.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The company had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. PayPal’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 EPS. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company lifted their price objective on shares of PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Macquarie lifted their price target on PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $84.00 price objective on shares of PayPal in a research report on Wednesday, July 31st. Evercore ISI boosted their target price on shares of PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Finally, William Blair raised shares of PayPal to a “hold” rating in a research report on Tuesday, July 30th. Eighteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.56.

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.