Penserra Capital Management LLC Has $23.84 Million Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Penserra Capital Management LLC lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 305,489 shares of the credit services provider's stock after selling 42,467 shares during the period. Penserra Capital Management LLC's holdings in PayPal were worth $23,835,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Family Firm Inc. purchased a new position in PayPal during the second quarter valued at $29,000. SYSTM Wealth Solutions LLC increased its holdings in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock valued at $29,000 after purchasing an additional 167 shares during the last quarter. Tortoise Investment Management LLC boosted its stake in PayPal by 930.0% during the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider's stock worth $30,000 after buying an additional 465 shares during the last quarter. Planning Capital Management Corp raised its holdings in shares of PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider's stock worth $32,000 after acquiring an additional 268 shares during the period. Finally, LRI Investments LLC purchased a new position in PayPal during the first quarter worth about $34,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Trading Up 2.3 %

PYPL stock traded up $1.95 during mid-day trading on Friday, reaching $86.77. 6,785,992 shares of the stock traded hands, compared to its average volume of 11,734,810. PayPal Holdings, Inc. has a 52-week low of $55.55 and a 52-week high of $87.92. The stock's fifty day moving average is $80.41 and its 200-day moving average is $69.68. The company has a market cap of $86.99 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.51 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 (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $7.85 billion during the quarter, compared to analysts' expectations of $7.88 billion. During the same period last year, the company posted $0.97 earnings per share. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts expect that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PYPL. TD Cowen raised their price objective on PayPal from $68.00 to $70.00 and gave the stock a "hold" rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their target price on shares of PayPal from $70.00 to $75.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. Argus raised PayPal from a "hold" rating to a "buy" rating in a report on Wednesday, July 31st. StockNews.com raised shares of PayPal from a "hold" rating to a "buy" rating in a report on Sunday, November 3rd. Finally, Daiwa Capital Markets upgraded shares of PayPal from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $68.00 to $72.00 in a research report on Friday, August 9th. Sixteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus 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.