PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Clearline Capital LP

Clearline Capital LP trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 23.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 272,392 shares of the credit services provider's stock after selling 81,725 shares during the period. PayPal accounts for approximately 0.9% of Clearline Capital LP's investment portfolio, making the stock its 15th biggest holding. Clearline Capital LP's holdings in PayPal were worth $21,255,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PYPL. ArrowMark Colorado Holdings LLC acquired a new stake in PayPal during the 3rd quarter worth about $250,000. Ascent Group LLC acquired a new position in PayPal in the third quarter valued at approximately $201,000. Benjamin Edwards Inc. boosted its position in PayPal by 8,335.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 27,837 shares of the credit services provider's stock worth $2,172,000 after purchasing an additional 27,507 shares in the last quarter. Atom Investors LP acquired a new stake in shares of PayPal during the 3rd quarter worth approximately $2,509,000. Finally, FSA Wealth Management LLC purchased a new position in shares of PayPal during the 3rd quarter valued at approximately $108,000. Hedge funds and other institutional investors own 68.32% of the company's stock.

PayPal Trading Down 0.3 %

NASDAQ:PYPL traded down $0.24 on Monday, reaching $86.53. 7,267,521 shares of the company's stock were exchanged, compared to its average volume of 13,231,020. The business has a fifty day moving average of $81.87 and a 200-day moving average of $70.69. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 52-week low of $55.77 and a 52-week high of $88.74. The firm has a market capitalization of $86.75 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43.

PayPal (NASDAQ:PYPL - Get Free Report) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm's quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 EPS. As a group, analysts expect that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on PYPL shares. Canaccord Genuity Group raised their price target on shares of PayPal from $80.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their price target on PayPal from $79.00 to $87.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Piper Sandler reissued a "neutral" rating and issued a $88.00 price objective on shares of PayPal in a report on Friday, November 22nd. Wells Fargo & Company upped their target price on PayPal from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Finally, Monness Crespi & Hardt lifted their price target on shares of PayPal from $95.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Sixteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, PayPal currently has an average rating of "Moderate Buy" and an average target price of $83.60.

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.