Private Advisor Group LLC lessened its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 12.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 151,337 shares of the credit services provider's stock after selling 21,060 shares during the quarter. Private Advisor Group LLC's holdings in PayPal were worth $12,917,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Alberta Investment Management Corp boosted its holdings in PayPal by 91.2% during the fourth quarter. Alberta Investment Management Corp now owns 43,600 shares of the credit services provider's stock worth $3,721,000 after buying an additional 20,800 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of PayPal by 12.4% during the 4th quarter. Global Retirement Partners LLC now owns 9,310 shares of the credit services provider's stock worth $795,000 after acquiring an additional 1,025 shares in the last quarter. Convergence Investment Partners LLC grew its position in shares of PayPal by 11.8% during the 4th quarter. Convergence Investment Partners LLC now owns 28,262 shares of the credit services provider's stock valued at $2,412,000 after acquiring an additional 2,988 shares during the period. Bank of Jackson Hole Trust purchased a new position in shares of PayPal in the 4th quarter valued at about $41,000. Finally, Klingman & Associates LLC acquired a new position in PayPal in the 4th quarter worth about $216,000. Hedge funds and other institutional investors own 68.32% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have commented on the company. Monness Crespi & Hardt raised their price objective on PayPal from $95.00 to $110.00 and gave the company a "buy" rating in a report on Monday, October 28th. JPMorgan Chase & Co. lifted their price target on shares of PayPal from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Canaccord Genuity Group upped their price objective on shares of PayPal from $80.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $100.00 price objective on shares of PayPal in a report on Thursday, December 12th. Finally, The Goldman Sachs Group boosted their target price on shares of PayPal from $79.00 to $87.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Thirteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, PayPal presently has an average rating of "Moderate Buy" and a consensus target price of $90.52.
Get Our Latest Stock Analysis on PayPal
PayPal Trading Down 3.5 %
PayPal stock traded down $2.68 during mid-day trading on Friday, hitting $74.95. The company's stock had a trading volume of 15,156,060 shares, compared to its average volume of 11,485,007. PayPal Holdings, Inc. has a 1 year low of $56.97 and a 1 year high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $74.14 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 1.28 and a beta of 1.44. The stock's fifty day moving average is $85.50 and its two-hundred day moving average is $80.53.
PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.08. The business had revenue of $8.37 billion during the quarter, compared to analysts' expectations of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company's revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.48 EPS. On average, analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current year.
About PayPal
(
Free Report)
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.
Further Reading
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