Weatherly Asset Management L. P. Decreases Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Weatherly Asset Management L. P. trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,113 shares of the credit services provider’s stock after selling 3,013 shares during the quarter. Weatherly Asset Management L. P.’s holdings in PayPal were worth $4,066,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Primecap Management Co. CA raised its position in shares of PayPal by 180.7% during 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 buying an additional 3,184,160 shares during the period. Clearbridge Investments LLC raised its position in shares of 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 buying an additional 1,866,925 shares during the period. International Assets Investment Management LLC raised its position in shares of PayPal by 9,864.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock valued at $87,336,000 after buying an additional 1,108,030 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of PayPal by 31.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock valued at $194,262,000 after buying an additional 687,940 shares during the period. Finally, Swedbank AB purchased a new stake in shares of PayPal during the 1st quarter valued at approximately $42,297,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $77.25 on Friday. The stock has a market capitalization of $77.45 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.40 and a beta of 1.44. PayPal Holdings, Inc. has a one year low of $52.55 and a one year high of $83.70. The company has a 50-day simple moving average of $76.50 and a 200-day simple moving average of $67.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.24 and a current ratio of 1.25.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.12. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 earnings per share. On average, analysts predict that PayPal Holdings, Inc. will post 4.54 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on PYPL shares. Canaccord Genuity Group lifted their price target on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $78.00 target price on shares of PayPal in a research report on Wednesday, September 18th. Jefferies Financial Group dropped their price target on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Finally, Mizuho boosted their price target on shares of PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Seventeen 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.29.

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.