Mackenzie Financial Corp Grows Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Mackenzie Financial Corp boosted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 136.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 285,579 shares of the credit services provider’s stock after acquiring an additional 164,608 shares during the period. Mackenzie Financial Corp’s holdings in PayPal were worth $17,537,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in PayPal by 12.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,246,996 shares of the credit services provider’s stock valued at $144,215,000 after buying an additional 138,875 shares during the last quarter. Dakota Wealth Management raised its position in shares of PayPal by 8.6% in the 1st quarter. Dakota Wealth Management now owns 4,894 shares of the credit services provider’s stock worth $566,000 after purchasing an additional 387 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in PayPal by 15.4% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,860 shares of the credit services provider’s stock worth $793,000 after purchasing an additional 918 shares in the last quarter. Covestor Ltd grew its position in PayPal by 136.1% during the 1st quarter. Covestor Ltd now owns 1,334 shares of the credit services provider’s stock valued at $154,000 after purchasing an additional 769 shares during the last quarter. Finally, Donaldson Capital Management LLC increased its stake in PayPal by 5.3% during the 1st quarter. Donaldson Capital Management LLC now owns 3,095 shares of the credit services provider’s stock valued at $358,000 after purchasing an additional 155 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Insider Transactions at PayPal

In related news, SVP Frank Keller sold 7,686 shares of the 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 completion of the transaction, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of PayPal from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. JMP Securities increased their target price on PayPal from $68.00 to $70.00 and gave the company a “market outperform” rating in a research note on Wednesday. Evercore ISI upped their price target on PayPal from $56.00 to $60.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. DZ Bank cut PayPal from a “buy” rating to a “hold” rating and set a $60.00 price objective on the stock. in a research report on Friday, February 9th. Finally, Canaccord Genuity Group decreased their target price on PayPal from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.47.

PayPal Trading Down 1.8 %

PayPal stock opened at $62.10 on Friday. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $76.54. The firm’s 50 day moving average price is $62.27 and its 200-day moving average price is $59.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market cap of $65.37 billion, a P/E ratio of 16.17, a PEG ratio of 1.44 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results 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. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. PayPal’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. On average, equities analysts predict that PayPal Holdings, Inc. will post 3.93 earnings per share for the current fiscal year.

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.