PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 10.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,041,086 shares of the credit services provider's stock after selling 619,634 shares during the quarter. PayPal accounts for approximately 3.3% of Ontario Teachers Pension Plan Board's investment portfolio, making the stock its 13th biggest position. Ontario Teachers Pension Plan Board owned about 0.50% of PayPal worth $393,356,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Family Firm Inc. acquired a new stake in PayPal during the 2nd quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC increased 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 worth $29,000 after purchasing an additional 167 shares in the last quarter. Tortoise Investment Management LLC lifted its holdings in shares of PayPal by 930.0% in the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider's stock valued at $30,000 after purchasing an additional 465 shares in the last quarter. Planning Capital Management Corp boosted its position in shares of PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider's stock valued at $32,000 after buying an additional 268 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in PayPal in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 68.32% of the company's stock.

Analyst Upgrades and Downgrades

PYPL has been the subject of several analyst reports. Phillip Securities reiterated an "accumulate" rating and issued a $90.00 price objective (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price target on PayPal from $74.00 to $94.00 and gave the company a "buy" rating in a research report on Monday, September 23rd. Oppenheimer started coverage on PayPal in a research report on Tuesday, October 1st. They set a "market perform" rating on the stock. Macquarie boosted their price target on shares of PayPal from $90.00 to $95.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Finally, Daiwa America raised shares of PayPal from a "moderate buy" rating to a "strong-buy" rating in a research note on Friday, August 9th. Fifteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.45.

PayPal Trading Up 0.8 %

PYPL traded up $0.65 during mid-day trading on Wednesday, hitting $84.74. 6,072,808 shares of the stock were exchanged, compared to its average volume of 13,421,009. The company has a market cap of $84.96 billion, a PE ratio of 20.20, a PEG ratio of 1.53 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 1-year low of $55.28 and a 1-year high of $87.92. The firm's fifty day moving average is $79.47 and its two-hundred day moving average is $69.29.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm had revenue of $7.85 billion during the quarter, compared to analysts' expectations of $7.88 billion. During the same period in the prior year, the firm earned $0.97 EPS. The business's revenue was up 6.0% on a year-over-year basis. Equities analysts forecast that PayPal Holdings, Inc. will post 4.56 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.