Udine Wealth Management Inc. Sells 3,084 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Udine Wealth Management Inc. decreased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,733 shares of the credit services provider’s stock after selling 3,084 shares during the quarter. PayPal makes up approximately 1.3% of Udine Wealth Management Inc.’s portfolio, making the stock its 20th largest position. Udine Wealth Management Inc.’s holdings in PayPal were worth $2,026,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PYPL. Mizuho Securities USA LLC lifted its holdings in PayPal by 12,919.4% during the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after acquiring an additional 10,419,351 shares during the period. FMR LLC increased its position in shares of PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after purchasing an additional 7,767,072 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of PayPal during the 3rd quarter worth $387,435,000. Clearbridge Investments LLC boosted its holdings in shares of PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after buying an additional 1,866,925 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in PayPal by 9,864.9% during the third 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. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on PYPL shares. Canaccord Genuity Group boosted their target price on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Susquehanna upped their price objective on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research note on Monday, January 6th. Macquarie raised their target price on PayPal from $95.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Oppenheimer began coverage on PayPal in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. Finally, Piper Sandler reiterated a “neutral” rating and set a $88.00 price target on shares of PayPal in a research note on Friday, November 22nd. Fourteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, PayPal has an average rating of “Moderate Buy” and a consensus price target of $89.32.

PayPal Stock Up 3.3 %

Shares of NASDAQ:PYPL opened at $91.81 on Friday. The firm has a market capitalization of $92.04 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 1.42 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. PayPal Holdings, Inc. has a 52-week low of $55.77 and a 52-week high of $93.66. The firm has a fifty day moving average of $87.40 and a 200 day moving average of $76.72.

PayPal (NASDAQ:PYPL) last posted 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 firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 EPS. As a group, research analysts anticipate that PayPal Holdings, Inc. will post 4.57 EPS 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.