abrdn plc Has $67.35 Million Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

abrdn plc trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 785,701 shares of the credit services provider’s stock after selling 63,522 shares during the period. abrdn plc owned 0.08% of PayPal worth $67,346,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Relyea Zuckerberg Hanson LLC raised its position in PayPal by 113.8% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after purchasing an additional 3,976 shares during the last quarter. World Investment Advisors LLC bought a new position in PayPal in the 3rd quarter valued at approximately $387,435,000. United Advisor Group LLC acquired a new stake in PayPal during the 3rd quarter worth approximately $810,000. FCG Investment Co bought a new stake in PayPal during the 3rd quarter worth approximately $1,079,000. Finally, Equity Investment Corp increased its position in PayPal by 3.5% in the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after acquiring an additional 67,497 shares during the period. 68.32% of the stock is currently owned by institutional investors.

PayPal Trading Down 13.2 %

NASDAQ:PYPL opened at $77.72 on Wednesday. PayPal Holdings, Inc. has a 52 week low of $55.77 and a 52 week high of $93.66. The firm has a 50-day moving average price of $88.20 and a two-hundred day moving average price of $79.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $77.92 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the business posted $1.48 earnings per share. PayPal’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts expect that PayPal Holdings, Inc. will post 4.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PYPL. Wolfe Research upgraded shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a report on Friday, December 13th. Stephens upped their price target on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Canaccord Genuity Group lifted their price objective on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. 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 report on Monday, October 14th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.48.

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.