PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by United Services Automobile Association

United Services Automobile Association lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 31,276 shares of the credit services provider’s stock after selling 1,364 shares during the period. United Services Automobile Association’s holdings in PayPal were worth $1,815,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PYPL. Norges Bank purchased a new stake in PayPal during the 4th quarter valued at about $749,561,000. The Manufacturers Life Insurance Company grew its position in shares of PayPal by 125.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after purchasing an additional 958,130 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of PayPal by 15.8% in the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after purchasing an additional 904,804 shares during the last quarter. Boston Partners lifted its position in PayPal by 4,024.5% during the fourth quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock worth $48,099,000 after buying an additional 764,258 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in PayPal by 1,309.2% in the 4th quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock valued at $49,168,000 after buying an additional 743,833 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PYPL. BMO Capital Markets lifted their price target on PayPal from $65.00 to $72.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. New Street Research initiated coverage on shares of PayPal in a research note on Friday, May 31st. They issued a “buy” rating and a $80.00 price target for the company. StockNews.com lowered shares of PayPal from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Susquehanna raised their target price on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a research note on Wednesday, July 31st. Eighteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.56.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $69.35 on Tuesday. The stock has a market cap of $70.90 billion, a P/E ratio of 17.47, a P/E/G ratio of 0.98 and a beta of 1.43. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $74.40. The stock has a 50 day moving average of $64.73 and a two-hundred day moving average of $63.67. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. PayPal’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 EPS. On average, research analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current 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.