Charles Schwab Investment Management Inc. Sells 707,438 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Charles Schwab Investment Management Inc. decreased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,531,139 shares of the credit services provider’s stock after selling 707,438 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in PayPal were worth $509,625,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Family Firm Inc. purchased a new position in shares of PayPal during the second quarter worth $29,000. SYSTM Wealth Solutions LLC raised its stake in shares of PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares during the last quarter. Tortoise Investment Management LLC boosted its stake in shares of PayPal by 930.0% in the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after buying an additional 465 shares during the last quarter. Planning Capital Management Corp grew its holdings in PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 268 shares during the period. Finally, LRI Investments LLC purchased a new position in PayPal during the first quarter valued at approximately $34,000. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

NASDAQ PYPL opened at $85.04 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $85.26 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.50 and a beta of 1.43. The stock has a 50-day moving average of $80.07 and a two-hundred day moving average of $69.51. PayPal Holdings, Inc. has a 1-year low of $55.55 and a 1-year high of $87.92.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 EPS. As a group, analysts anticipate that PayPal Holdings, Inc. will post 4.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on PYPL shares. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research report on Sunday, November 3rd. Jefferies Financial Group cut their price target on PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Mizuho raised their price objective on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company boosted their price target on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their target price on shares of PayPal from $84.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.45.

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.