Bridgewater Associates LP Lowers Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Bridgewater Associates LP reduced its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 23.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,221,461 shares of the credit services provider’s stock after selling 384,474 shares during the quarter. Bridgewater Associates LP’s holdings in PayPal were worth $95,311,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bruce G. Allen Investments LLC boosted its stake in shares of PayPal by 7.4% during the third quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock valued at $141,000 after purchasing an additional 124 shares in the last quarter. First United Bank & Trust grew its stake in PayPal by 6.4% in the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock valued at $187,000 after purchasing an additional 145 shares during the last quarter. Ritholtz Wealth Management raised its holdings in PayPal by 3.3% in the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock worth $369,000 after purchasing an additional 152 shares in the last quarter. SYSTM Wealth Solutions LLC lifted its position in shares of PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares during the last quarter. Finally, First Bank & Trust boosted its holdings in shares of PayPal by 4.4% in the 3rd quarter. First Bank & Trust now owns 4,016 shares of the credit services provider’s stock valued at $313,000 after buying an additional 171 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

PayPal Stock Performance

Shares of PYPL stock opened at $86.94 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 12-month low of $55.71 and a 12-month high of $88.74. The business’s 50 day moving average is $81.04 and its two-hundred day moving average is $70.06. The company has a market capitalization of $87.16 billion, a P/E ratio of 20.75, a P/E/G ratio of 1.56 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 EPS. Analysts expect that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PYPL has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. UBS Group increased their price objective on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Canaccord Genuity Group boosted their target price on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their price target on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Sanford C. Bernstein lowered PayPal from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.60.

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.