Empirical Financial Services LLC d.b.a. Empirical Wealth Management lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 2.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,071 shares of the credit services provider’s stock after selling 191 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in PayPal were worth $604,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of PYPL. FMR LLC raised its position in shares of PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares in the last quarter. Mizuho Securities USA LLC raised its position in shares of PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after acquiring an additional 10,419,351 shares in the last quarter. Clearbridge Investments LLC raised its position 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 acquiring an additional 1,866,925 shares in the last quarter. Primecap Management Co. CA raised its position in shares of 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 acquiring an additional 1,069,356 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new stake in shares of PayPal during the 3rd quarter worth about $387,435,000. Institutional investors and hedge funds own 68.32% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Wells Fargo & Company raised their price target on PayPal from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Royal Bank of Canada restated an “outperform” rating and set a $100.00 price target on shares of PayPal in a research note on Thursday, December 12th. Finally, Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a research note on Friday, December 13th. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, PayPal presently has an average rating of “Moderate Buy” and a consensus price target of $89.48.
PayPal Stock Performance
Shares of PYPL stock opened at $88.19 on Wednesday. The stock has a fifty day moving average price of $87.87 and a 200 day moving average price of $78.27. The stock has a market cap of $88.41 billion, a PE ratio of 21.05, a P/E/G ratio of 1.54 and a beta of 1.44. PayPal Holdings, Inc. has a 1 year low of $55.77 and a 1 year high of $93.66. 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 (NASDAQ:PYPL – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. PayPal’s revenue was up 6.0% on a year-over-year basis. Sell-side analysts forecast that PayPal Holdings, Inc. will post 4.58 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.
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