Alpha Cubed Investments LLC Sells 600 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Alpha Cubed Investments LLC lessened its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 17.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,756 shares of the credit services provider’s stock after selling 600 shares during the period. Alpha Cubed Investments LLC’s holdings in PayPal were worth $235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PYPL. FMR LLC grew its holdings in PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after purchasing an additional 7,767,072 shares during the period. Mizuho Securities USA LLC grew its stake in shares of PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after buying an additional 10,419,351 shares during the last quarter. Legal & General Group Plc increased its position in PayPal by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after buying an additional 276,287 shares in the last quarter. Clearbridge Investments LLC raised its stake in 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 buying an additional 1,866,925 shares during the last quarter. Finally, Primecap Management Co. CA boosted its holdings in PayPal by 21.6% in the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after acquiring an additional 1,069,356 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Price Performance

Shares of PayPal stock opened at $89.77 on Wednesday. The company has a market capitalization of $90.00 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 1.57 and a beta of 1.44. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock’s 50-day simple moving average is $87.50 and its 200-day simple moving average is $77.20. PayPal Holdings, Inc. has a 52 week low of $55.77 and a 52 week high of $93.66.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on PYPL. Morgan Stanley lifted their price target on PayPal from $76.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Oppenheimer assumed coverage on shares of PayPal in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Citigroup upped their price objective on PayPal from $94.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, Canaccord Genuity Group lifted their target price on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.32.

About PayPal

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.