Cohen Klingenstein LLC Lowers Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Cohen Klingenstein LLC decreased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 21.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,709 shares of the credit services provider's stock after selling 19,000 shares during the period. Cohen Klingenstein LLC's holdings in PayPal were worth $5,864,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PYPL. Dimensional Fund Advisors LP raised its position in PayPal by 14.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider's stock worth $183,789,000 after purchasing an additional 409,322 shares during the period. Edgestream Partners L.P. purchased a new position in shares of PayPal in the second quarter worth about $1,645,000. Axxcess Wealth Management LLC lifted its stake in shares of PayPal by 50.8% in the 2nd quarter. Axxcess Wealth Management LLC now owns 11,171 shares of the credit services provider's stock valued at $648,000 after acquiring an additional 3,763 shares during the last quarter. SYSTM Wealth Solutions LLC boosted its holdings in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock valued at $29,000 after acquiring an additional 167 shares during the period. Finally, WCG Wealth Advisors LLC purchased a new position in PayPal in the 2nd quarter worth approximately $702,000. Institutional investors own 68.32% of the company's stock.

PayPal Stock Performance

PYPL stock traded up $2.89 during trading on Friday, reaching $91.81. The stock had a trading volume of 16,468,435 shares, compared to its average volume of 6,562,702. The firm has a market cap of $92.04 billion, a PE ratio of 21.91, a PEG ratio of 1.42 and a beta of 1.44. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock's 50 day moving average is $87.40 and its two-hundred day moving average is $76.72. PayPal Holdings, Inc. has a 52 week low of $55.77 and a 52 week high of $93.66.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of PayPal from $92.00 to $104.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Sanford C. Bernstein cut shares of PayPal from an "outperform" rating to a "market perform" rating and boosted their price objective for the company from $75.00 to $80.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of PayPal from $74.00 to $94.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. Morgan Stanley boosted their price target on PayPal from $76.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, December 18th. Finally, Bank of America upgraded PayPal from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $86.00 to $103.00 in a report on Monday, December 9th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, PayPal has a consensus rating of "Moderate Buy" and an average target price of $89.32.

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.