PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Clearline Capital LP

Clearline Capital LP lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 23.1% in the third quarter, Holdings Channel reports. The institutional investor owned 272,392 shares of the credit services provider’s stock after selling 81,725 shares during the quarter. PayPal accounts for approximately 0.9% of Clearline Capital LP’s portfolio, making the stock its 15th biggest position. Clearline Capital LP’s holdings in PayPal were worth $21,255,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PYPL. FMR LLC grew its holdings in 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 lifted its position in shares of PayPal by 12,919.4% during the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after purchasing an additional 10,419,351 shares during the last quarter. Legal & General Group Plc grew its stake in PayPal by 3.3% in the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after purchasing an additional 276,287 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of PayPal by 28.1% during 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 last quarter. Finally, 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 purchasing an additional 1,069,356 shares during the period. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Up 0.2 %

PYPL opened at $86.77 on Monday. The company has a market capitalization of $86.99 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. PayPal Holdings, Inc. has a fifty-two week low of $55.77 and a fifty-two week high of $88.74. The business has a 50-day moving average of $81.69 and a 200-day moving average of $70.53.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 earnings per share. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PYPL shares. Canaccord Genuity Group raised their target price on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada increased their price target on PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. BMO Capital Markets boosted their price objective on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $78.00 price objective on shares of PayPal in a report on Wednesday, September 18th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $88.00 price target on shares of PayPal in a research report on Friday, November 22nd. Sixteen equities 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $83.60.

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.