Mn Services Vermogensbeheer B.V. Reduces Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Mn Services Vermogensbeheer B.V. reduced its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 394,799 shares of the credit services provider’s stock after selling 9,000 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in PayPal were worth $30,806,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in PayPal by 18.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock worth $15,686,000 after acquiring an additional 36,994 shares during the period. FORA Capital LLC acquired a new stake in shares of PayPal in the first quarter valued at about $740,000. Whittier Trust Co. raised its position in shares of PayPal by 2.6% in the first quarter. Whittier Trust Co. now owns 12,962 shares of the credit services provider’s stock valued at $868,000 after buying an additional 323 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of PayPal by 23.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 5,410 shares of the credit services provider’s stock valued at $362,000 after buying an additional 1,019 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of PayPal in the first quarter valued at about $176,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada increased their target price on shares of PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Sunday. JPMorgan Chase & Co. increased their target price on shares of PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.45.

PayPal Stock Up 0.4 %

PYPL stock traded up $0.32 during midday trading on Monday, reaching $77.57. 2,941,168 shares of the company were exchanged, compared to its average volume of 13,606,513. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.24 and a current ratio of 1.25. PayPal Holdings, Inc. has a 1-year low of $53.55 and a 1-year high of $83.70. The stock’s 50-day simple moving average is $76.50 and its 200 day simple moving average is $67.72. The company has a market cap of $77.77 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 1.41 and a beta of 1.43.

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

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.