Brown Brothers Harriman & Co. Reduces Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Brown Brothers Harriman & Co. lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 53,336 shares of the credit services provider’s stock after selling 1,892 shares during the period. Brown Brothers Harriman & Co.’s holdings in PayPal were worth $4,162,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. United Advisor Group LLC purchased a new position in shares of PayPal during the 3rd quarter worth $810,000. FCG Investment Co acquired a new position in PayPal in the third quarter valued at about $1,079,000. Equity Investment Corp boosted its stake in PayPal by 3.5% during the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock worth $155,927,000 after buying an additional 67,497 shares during the period. Weil Company Inc. increased its position in shares of PayPal by 68.9% during the third quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after acquiring an additional 17,003 shares during the last quarter. Finally, Brown Financial Advisors purchased a new stake in shares of PayPal in the 2nd quarter valued at approximately $1,454,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Up 1.2 %

Shares of NASDAQ PYPL opened at $87.77 on Tuesday. The business has a 50-day moving average price of $80.74 and a 200 day moving average price of $69.89. The stock has a market cap of $87.99 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 52-week low of $55.71 and a 52-week high of $88.74.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating 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 company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 earnings per share. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PYPL. Oppenheimer initiated coverage on shares of PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. BMO Capital Markets raised their price target on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Piper Sandler reiterated a “neutral” rating and issued a $88.00 price objective on shares of PayPal in a report on Friday. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a research report on Sunday, November 3rd. Finally, Morgan Stanley raised their price objective on shares of PayPal from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Sixteen 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 data from MarketBeat.com, the stock presently 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.