PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lowered its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 362,567 shares of the credit services provider’s stock after selling 16,668 shares during the period. Gateway Investment Advisers LLC’s holdings in PayPal were worth $28,291,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Legal & General Group Plc increased its position in shares of PayPal by 3.3% during 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 acquiring an additional 276,287 shares during the period. Clearbridge Investments LLC raised its position in PayPal by 28.1% in the 2nd 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 in the last quarter. Primecap Management Co. CA boosted its stake in shares of PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after buying an additional 3,184,160 shares during the period. Dimensional Fund Advisors LP grew its position in shares of PayPal by 14.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock worth $183,789,000 after buying an additional 409,322 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of PayPal by 5.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock worth $176,789,000 after buying an additional 146,643 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Canaccord Genuity Group restated a “buy” rating and issued a $80.00 price target on shares of PayPal in a research note on Wednesday, July 31st. BMO Capital Markets upped their price objective on PayPal from $72.00 to $73.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $68.00 to $72.00 in a report on Friday, August 9th. Finally, Evercore ISI boosted their target price on PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Seventeen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus target price of $76.47.

PayPal Price Performance

NASDAQ PYPL traded up $1.53 during trading hours on Friday, reaching $80.51. The company’s stock had a trading volume of 7,744,777 shares, compared to its average volume of 13,838,300. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The company’s 50-day moving average is $72.42 and its two-hundred day moving average is $66.13. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $82.00. The stock has a market cap of $82.31 billion, a PE ratio of 19.49, a PEG ratio of 1.49 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data 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. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same period last year, the company posted $0.83 EPS. The company’s revenue was up 8.2% on a year-over-year basis. Analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

PayPal 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.