Litman Gregory Wealth Management LLC Lowers Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Litman Gregory Wealth Management LLC cut its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 185,166 shares of the credit services provider’s stock after selling 11,325 shares during the quarter. PayPal makes up 1.2% of Litman Gregory Wealth Management LLC’s investment portfolio, making the stock its 24th largest position. Litman Gregory Wealth Management LLC’s holdings in PayPal were worth $14,449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Primecap Management Co. CA grew 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 purchasing an additional 3,184,160 shares during the period. Clearbridge Investments LLC grew 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 purchasing an additional 1,866,925 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in PayPal by 31.1% in the first 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 period. Swedbank AB purchased a new stake in PayPal in the first quarter valued at approximately $42,297,000. Finally, Greenvale Capital LLP grew its holdings in PayPal by 24.4% in the second 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 period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Wells Fargo & Company boosted their price objective on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Oppenheimer assumed coverage on shares of PayPal in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. TD Cowen boosted their price objective 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, Monness Crespi & Hardt boosted their price objective on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Sixteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus target price of $78.03.

PayPal Stock Performance

PYPL stock traded up $0.18 during trading on Wednesday, hitting $81.09. 1,973,926 shares of the company’s stock traded hands, compared to its average volume of 13,557,244. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $82.23. The stock has a fifty day moving average price of $74.81 and a two-hundred day moving average price of $66.86. The stock has a market capitalization of $82.90 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 earnings per share. As a group, equities analysts anticipate that PayPal Holdings, Inc. will post 4.44 EPS for the current fiscal year.

PayPal Company 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.