Virtu Financial LLC Sells 110,020 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Virtu Financial LLC cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 88.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,587 shares of the credit services provider's stock after selling 110,020 shares during the quarter. Virtu Financial LLC's holdings in PayPal were worth $1,138,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mizuho Securities USA LLC raised its stake in PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider's stock worth $819,315,000 after buying an additional 10,419,351 shares during the period. FMR LLC raised its position in shares of PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider's stock worth $1,307,945,000 after purchasing an additional 7,767,072 shares during the period. World Investment Advisors LLC bought a new position in shares of PayPal in the 3rd quarter worth $387,435,000. Primecap Management Co. CA grew its position in PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider's stock valued at $287,043,000 after purchasing an additional 3,184,160 shares during the period. Finally, Clearbridge Investments LLC increased its stake in PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider's stock valued at $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

PayPal Price Performance

Shares of PYPL stock traded up $1.62 during trading hours on Friday, reaching $91.02. The stock had a trading volume of 8,358,050 shares, compared to its average volume of 13,055,767. The stock's fifty day simple moving average is $83.87 and its 200 day simple moving average is $72.23. 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 firm has a market capitalization of $91.25 billion, a PE ratio of 21.72, a PEG ratio of 1.66 and a beta of 1.44. PayPal Holdings, Inc. has a 12 month low of $55.77 and a 12 month high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm's revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 earnings per share. On average, equities research analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PYPL. Mizuho raised their price objective on shares of PayPal from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Stephens raised their price target on shares of PayPal from $75.00 to $85.00 and gave the company an "equal weight" rating in a research report on Friday, October 18th. JPMorgan Chase & Co. boosted their price objective on PayPal from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Macquarie increased their price objective on PayPal from $90.00 to $95.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Finally, Sanford C. Bernstein cut PayPal from an "outperform" rating to a "market perform" rating and lifted their target price for the company from $75.00 to $80.00 in a research report on Thursday, October 10th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PayPal has an average rating of "Moderate Buy" and an average target price of $86.74.

PayPal Company 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.