Parcion Private Wealth LLC Lowers Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Parcion Private Wealth LLC trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,000 shares of the credit services provider’s stock after selling 520 shares during the period. Parcion Private Wealth LLC’s holdings in PayPal were worth $312,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PYPL. Legal & General Group Plc lifted its holdings in PayPal by 3.3% in the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after acquiring an additional 276,287 shares during the period. Clearbridge Investments LLC lifted its holdings in PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after acquiring an additional 1,866,925 shares during the period. Primecap Management Co. CA lifted its holdings in PayPal by 180.7% in the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after acquiring an additional 3,184,160 shares during the period. Dimensional Fund Advisors LP lifted its holdings in PayPal by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock valued at $183,789,000 after acquiring an additional 409,322 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in PayPal by 5.1% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock valued at $176,789,000 after acquiring an additional 146,643 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PYPL shares. Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Wells Fargo & Company lifted their price target on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group lifted their price target on PayPal from $69.00 to $79.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. lifted their price target on PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Seventeen equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.03.

PayPal Stock Up 0.4 %

Shares of NASDAQ:PYPL opened at $81.70 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $82.80. The stock has a market capitalization of $85.46 billion, a P/E ratio of 20.58, a PEG ratio of 1.50 and a beta of 1.44. The stock has a 50-day simple moving average of $75.65 and a 200-day simple moving average of $67.16.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter in the previous year, the business earned $0.83 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts forecast that PayPal Holdings, Inc. will post 4.44 earnings per share for the current year.

PayPal Profile

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.