PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Brown Shipley& Co Ltd

Brown Shipley& Co Ltd cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,044 shares of the credit services provider’s stock after selling 4,857 shares during the period. PayPal makes up approximately 1.9% of Brown Shipley& Co Ltd’s holdings, making the stock its 21st largest holding. Brown Shipley& Co Ltd’s holdings in PayPal were worth $3,749,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mizuho Securities USA LLC grew its stake in PayPal by 12,919.4% in the 3rd 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 during the last quarter. FMR LLC lifted its holdings in shares of PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after purchasing an additional 7,767,072 shares in the last quarter. Primecap Management Co. CA grew its position in shares of 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 purchasing an additional 3,184,160 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of PayPal by 9,864.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock worth $87,336,000 after purchasing an additional 1,108,030 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PYPL shares. Monness Crespi & Hardt increased their target price on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 28th. Phillip Securities reaffirmed an “accumulate” rating and set a $90.00 price objective (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. Canaccord Genuity Group boosted their target price on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. TD Cowen raised their price target on shares of PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their price objective on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. 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. According to data from MarketBeat, PayPal has a consensus rating of “Moderate Buy” and an average price target of $83.60.

PayPal Price Performance

PYPL stock opened at $86.57 on Thursday. The firm has a market cap of $86.79 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. PayPal Holdings, Inc. has a 1 year low of $55.77 and a 1 year high of $88.74. The stock has a 50-day simple moving average of $81.31 and a 200-day simple moving average of $70.17.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. PayPal’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 EPS. On average, equities analysts predict that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal 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.