Renaissance Investment Group LLC Decreases Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Renaissance Investment Group LLC reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,427 shares of the credit services provider’s stock after selling 288 shares during the quarter. Renaissance Investment Group LLC’s holdings in PayPal were worth $423,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PYPL. Primecap Management Co. CA raised its stake in PayPal by 180.7% in the 2nd 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 raised its stake in PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after purchasing an additional 1,866,925 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in PayPal by 31.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock valued at $194,262,000 after purchasing an additional 687,940 shares during the last quarter. Swedbank AB acquired a new position in PayPal in the 1st quarter valued at $42,297,000. Finally, Greenvale Capital LLP raised its stake in PayPal by 24.4% in the 2nd quarter. Greenvale Capital LLP now owns 2,675,000 shares of the credit services provider’s stock valued at $155,230,000 after purchasing an additional 525,000 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Stock Performance

Shares of PYPL opened at $80.51 on Friday. The stock has a 50-day simple moving average of $72.42 and a 200-day simple moving average of $66.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $84.22 billion, a PE ratio of 20.28, a PEG ratio of 1.49 and a beta of 1.44. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $82.00.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the business posted $0.83 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts predict that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

PYPL has been the subject of several recent research reports. Oppenheimer initiated coverage on PayPal in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft raised their target price on PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. William Blair raised PayPal to a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $84.00 target price on shares of PayPal in a research note on Wednesday, July 31st. Finally, Mizuho reaffirmed an “outperform” rating and issued a $90.00 target price on shares of PayPal in a research note on Tuesday, August 20th. Seventeen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $76.47.

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.