Gateway Investment Advisers LLC Cuts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Gateway Investment Advisers LLC trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in PYPL. Brown Financial Advisors bought a new position in PayPal in the second quarter worth about $1,454,000. Cape Cod Five Cents Savings Bank purchased a new stake in PayPal during the second quarter valued at approximately $3,014,000. Distillate Capital Partners LLC boosted its stake in PayPal by 156,934.7% in the second quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock valued at $19,957,000 after acquiring an additional 343,687 shares in the last quarter. Fiduciary Alliance LLC grew its holdings in PayPal by 604.7% in the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock worth $3,452,000 after purchasing an additional 45,544 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of PayPal by 44.6% during the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after purchasing an additional 381 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com cut PayPal from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Jefferies Financial Group lowered their target price on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. BMO Capital Markets upped their price target on shares of PayPal from $72.00 to $73.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Mizuho reiterated an “outperform” rating and set a $90.00 price objective on shares of PayPal in a research note on Tuesday, August 20th. Finally, William Blair raised PayPal to a “hold” rating in a research report on Tuesday, July 30th. Seventeen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $76.47.

PayPal Trading Up 1.9 %

Shares of PYPL traded up $1.53 during mid-day trading on Friday, reaching $80.51. The stock had a trading volume of 7,744,777 shares, compared to its average volume of 13,838,300. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $82.00. The firm has a market cap of $82.31 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 1.49 and a beta of 1.44. The business’s fifty day moving average is $72.42 and its 200 day moving average is $66.13. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24.

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

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.