Gradient Investments LLC Reduces Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Gradient Investments LLC reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 17.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 288,900 shares of the credit services provider’s stock after selling 61,969 shares during the quarter. Gradient Investments LLC’s holdings in PayPal were worth $24,658,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of PayPal by 6.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 681,068 shares of the credit services provider’s stock worth $58,129,000 after purchasing an additional 41,980 shares during the last quarter. Midwest Financial Group LLC raised its position in PayPal by 5.0% during the 4th quarter. Midwest Financial Group LLC now owns 3,139 shares of the credit services provider’s stock worth $268,000 after buying an additional 150 shares during the last quarter. CX Institutional lifted its stake in PayPal by 8.2% during the 4th quarter. CX Institutional now owns 7,987 shares of the credit services provider’s stock valued at $682,000 after acquiring an additional 602 shares during the period. Encompass More Asset Management purchased a new stake in shares of PayPal in the 4th quarter valued at $257,000. Finally, Impact Partnership Wealth LLC increased its stake in shares of PayPal by 7.8% in the fourth quarter. Impact Partnership Wealth LLC now owns 10,711 shares of the credit services provider’s stock worth $914,000 after acquiring an additional 777 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Performance

NASDAQ:PYPL opened at $89.11 on Friday. PayPal Holdings, Inc. has a fifty-two week low of $55.77 and a fifty-two week 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. The company has a 50 day moving average price of $87.70 and a 200 day moving average price of $77.58. The stock has a market capitalization of $89.34 billion, a P/E ratio of 21.27, a PEG ratio of 1.54 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business 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. The company’s revenue was up 6.0% on a year-over-year basis. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PYPL shares. Canaccord Genuity Group upped their price target on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Monness Crespi & Hardt lifted their price target on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Mizuho raised their price objective on shares of PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Robert W. Baird boosted their target price on shares of PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Wolfe Research raised shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective for the company in a report on Friday, December 13th. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.48.

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.