LGT Capital Partners LTD. Cuts Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

LGT Capital Partners LTD. lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 91.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,900 shares of the credit services provider’s stock after selling 128,810 shares during the period. LGT Capital Partners LTD.’s holdings in PayPal were worth $929,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC boosted its stake in PayPal by 216.9% in the 1st quarter. Acadian Asset Management LLC now owns 41,702 shares of the credit services provider’s stock worth $2,792,000 after purchasing an additional 28,543 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in PayPal by 29.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 52,341 shares of the credit services provider’s stock worth $3,506,000 after purchasing an additional 11,984 shares in the last quarter. UniSuper Management Pty Ltd boosted its stake in PayPal by 229.8% in the 1st quarter. UniSuper Management Pty Ltd now owns 29,443 shares of the credit services provider’s stock worth $1,972,000 after purchasing an additional 20,516 shares in the last quarter. Bessemer Group Inc. boosted its stake in PayPal by 18.5% in the 1st quarter. Bessemer Group Inc. now owns 12,898 shares of the credit services provider’s stock worth $863,000 after purchasing an additional 2,018 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its stake in PayPal by 67.7% in the 1st quarter. Lake Street Advisors Group LLC now owns 11,901 shares of the credit services provider’s stock worth $797,000 after purchasing an additional 4,803 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

PYPL has been the subject of several research reports. Susquehanna lifted their price objective on shares of PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Jefferies Financial Group decreased their price objective on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Wells Fargo & Company lifted their price objective on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Canaccord Genuity Group lifted their price objective 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. Finally, The Goldman Sachs Group lifted their price objective on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.45.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $84.67 on Tuesday. The firm has a 50-day simple moving average of $79.17 and a 200-day simple moving average of $69.16. The stock has a market capitalization of $84.89 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 1.53 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 52 week low of $55.28 and a 52 week high of $87.92.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 earnings per share. On average, equities analysts predict that PayPal Holdings, Inc. will post 4.56 earnings per share 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.