Convergence Financial LLC Lowers Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Convergence Financial LLC cut its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 12.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,730 shares of the credit services provider’s stock after selling 517 shares during the quarter. Convergence Financial LLC’s holdings in PayPal were worth $318,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Gordian Capital Singapore Pte Ltd acquired a new stake in PayPal in the 3rd quarter worth approximately $26,000. Rosenberg Matthew Hamilton boosted its position in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares in the last quarter. Sugarloaf Wealth Management LLC increased its holdings in PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 272 shares in the last quarter. Planning Capital Management Corp lifted its stake in PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after buying an additional 268 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of PayPal in the third quarter worth approximately $36,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PYPL shares. The Goldman Sachs Group raised their price objective on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Susquehanna increased their price target on PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a report on Monday, January 6th. Finally, UBS Group upped their price target on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Fourteen analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.55.

PayPal Stock Performance

Shares of PYPL opened at $72.05 on Thursday. The firm’s fifty day simple moving average is $84.25 and its two-hundred day simple moving average is $80.96. The stock has a market capitalization of $71.27 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.27 and a beta of 1.44. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. As a group, analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current 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.