Victory Capital Management Inc. Trims Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Victory Capital Management Inc. decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 3.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 814,731 shares of the credit services provider's stock after selling 29,975 shares during the period. Victory Capital Management Inc. owned 0.08% of PayPal worth $63,573,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PYPL. Financial Management Professionals Inc. increased its holdings in shares of PayPal by 125.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider's stock valued at $34,000 after acquiring an additional 243 shares during the period. Family Firm Inc. bought a new stake in shares of PayPal in the 2nd quarter valued at about $29,000. SYSTM Wealth Solutions LLC grew its position in shares of PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock worth $29,000 after buying an additional 167 shares during the last quarter. LRI Investments LLC purchased a new stake in PayPal during the first quarter valued at approximately $34,000. Finally, Tortoise Investment Management LLC boosted its stake in 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 acquiring an additional 465 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PYPL. Daiwa Capital Markets upgraded PayPal from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. William Blair upgraded shares of PayPal to a "hold" rating in a research note on Tuesday, July 30th. Stephens upped their price target on shares of PayPal from $75.00 to $85.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. Phillip Securities restated an "accumulate" rating and issued a $90.00 price objective (up from $80.00) on shares of PayPal in a research note on Friday, November 1st. Finally, UBS Group lifted their price objective on shares of PayPal from $72.00 to $85.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, PayPal currently has a consensus rating of "Moderate Buy" and an average price target of $83.45.

PayPal Stock Up 0.4 %

Shares of NASDAQ:PYPL traded up $0.34 during trading on Friday, hitting $86.13. 3,445,132 shares of the company were exchanged, compared to its average volume of 13,452,377. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The firm's 50 day moving average price is $78.52 and its 200-day moving average price is $68.88. The stock has a market capitalization of $86.35 billion, a P/E ratio of 20.32, a PEG ratio of 1.56 and a beta of 1.43. PayPal Holdings, Inc. has a 12-month low of $55.28 and a 12-month high of $87.92.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 earnings per share. On average, research analysts predict that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

About PayPal

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.