PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Asset Dedication LLC

Asset Dedication LLC reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,859 shares of the credit services provider’s stock after selling 157 shares during the quarter. Asset Dedication LLC’s holdings in PayPal were worth $159,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. FMR LLC raised its stake in 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. Mizuho Securities USA LLC raised its position in shares of 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 valued at $819,315,000 after buying an additional 10,419,351 shares during the period. Primecap Management Co. CA lifted its holdings in PayPal by 21.6% in the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after acquiring an additional 1,069,356 shares during the last quarter. World Investment Advisors LLC purchased a new position in PayPal in the third quarter worth approximately $387,435,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in PayPal by 12.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,189,947 shares of the credit services provider’s stock worth $248,912,000 after acquiring an additional 364,851 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PYPL shares. Keefe, Bruyette & Woods upped their price target on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company increased their target price on shares of PayPal from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Stephens boosted their price target on shares of PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Phillip Securities restated an “accumulate” rating and issued a $90.00 price objective (up from $80.00) on shares of PayPal in a report on Friday, November 1st. Finally, Barclays lifted their target price on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Fourteen research 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 company. According to MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.48.

PayPal Trading Up 0.6 %

Shares of PayPal stock opened at $88.76 on Thursday. The company has a fifty day simple moving average of $87.96 and a 200-day simple moving average of $78.46. PayPal Holdings, Inc. has a 12-month low of $55.77 and a 12-month high of $93.66. 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 stock has a market cap of $88.99 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 1.54 and a beta of 1.44.

PayPal (NASDAQ:PYPL) 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 the consensus estimate of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the company posted $0.97 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts forecast that PayPal Holdings, Inc. will post 4.58 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.