Fiduciary Group LLC lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) by 29.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,271 shares of the credit services provider’s stock after selling 8,948 shares during the period. Fiduciary Group LLC’s holdings in PayPal were worth $2,108,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in PYPL. Loomis Sayles & Co. L P boosted its holdings in PayPal by 410.9% in the first quarter. Loomis Sayles & Co. L P now owns 7,060,926 shares of the credit services provider’s stock valued at $816,596,000 after acquiring an additional 5,678,823 shares in the last quarter. Polen Capital Management LLC boosted its holdings in PayPal by 72.8% in the first quarter. Polen Capital Management LLC now owns 12,911,679 shares of the credit services provider’s stock valued at $1,493,236,000 after acquiring an additional 5,438,958 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in PayPal by 122.0% in the first quarter. Clearbridge Investments LLC now owns 6,230,481 shares of the credit services provider’s stock valued at $720,555,000 after acquiring an additional 3,424,122 shares in the last quarter. Flossbach Von Storch AG boosted its holdings in PayPal by 167.6% in the first quarter. Flossbach Von Storch AG now owns 4,872,654 shares of the credit services provider’s stock valued at $563,522,000 after acquiring an additional 3,051,934 shares in the last quarter. Finally, Black Creek Investment Management Inc. purchased a new position in PayPal during the second quarter valued at $170,453,000. Institutional investors own 70.67% of the company’s stock.
Wall Street Analyst Weigh In
PYPL has been the subject of several recent research reports. Susquehanna lowered PayPal from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $115.00 to $100.00 in a research report on Tuesday, September 20th. Truist Financial lowered their price objective on PayPal from $90.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, November 4th. Barclays lowered their price objective on PayPal from $125.00 to $100.00 and set an “overweight” rating for the company in a research report on Sunday, November 6th. Bank of America raised PayPal from a “neutral” rating to a “buy” rating and raised their price objective for the company from $94.00 to $114.00 in a research report on Wednesday, August 31st. Finally, Wells Fargo & Company lowered their price objective on PayPal from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday, November 4th. Thirteen research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.02.
PayPal Stock Performance
PayPal (NASDAQ:PYPL – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The credit services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.17. The company had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $6.82 billion. PayPal had a return on equity of 16.85% and a net margin of 8.50%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. On average, equities analysts expect that PayPal Holdings, Inc. will post 3.1 EPS for the current fiscal year.
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company's payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 100 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
- Get a free copy of the StockNews.com research report on PayPal (PYPL)
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