PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,478,072 shares of the credit services provider’s stock after selling 155,302 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.65% of PayPal worth $552,903,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mizuho Securities USA LLC lifted its position in shares of PayPal by 12,919.4% in the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after acquiring an additional 10,419,351 shares in the last quarter. FMR LLC increased its position in shares of 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 in the last quarter. World Investment Advisors LLC acquired a new position in PayPal in the 3rd quarter valued at $387,435,000. Robeco Institutional Asset Management B.V. lifted its holdings in PayPal by 174.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after purchasing an additional 2,689,162 shares in the last quarter. Finally, Primecap Management Co. CA boosted its stake in PayPal by 21.6% during the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after purchasing an additional 1,069,356 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PYPL has been the subject of a number of recent research reports. The Goldman Sachs Group increased their target price on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Barclays increased their price objective on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and raised their target price for the stock from $86.00 to $103.00 in a research note on Monday, December 9th. BMO Capital Markets upped their price target on PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Finally, 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 report on Wednesday, October 30th. Fourteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and an average target price of $90.52.

PayPal Stock Performance

Shares of PayPal stock opened at $74.07 on Wednesday. The stock has a market capitalization of $73.27 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 1.27 and a beta of 1.44. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The business has a 50-day moving average of $84.52 and a 200 day moving average of $81.02. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating 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 business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the firm posted $1.48 earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share 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.