Exchange Traded Concepts LLC Trims Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Exchange Traded Concepts LLC lowered its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,240 shares of the credit services provider’s stock after selling 4,711 shares during the quarter. Exchange Traded Concepts LLC’s holdings in PayPal were worth $15,213,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Sei Investments Co. lifted its stake in PayPal by 35.4% in the 2nd quarter. Sei Investments Co. now owns 147,259 shares of the credit services provider’s stock worth $8,545,000 after purchasing an additional 38,488 shares in the last quarter. Gabelli Funds LLC increased its holdings in shares of PayPal by 10.1% in the second quarter. Gabelli Funds LLC now owns 36,310 shares of the credit services provider’s stock worth $2,107,000 after purchasing an additional 3,320 shares during the last quarter. Public Sector Pension Investment Board lifted its position in shares of PayPal by 49.5% in the second quarter. Public Sector Pension Investment Board now owns 46,228 shares of the credit services provider’s stock worth $2,683,000 after buying an additional 15,316 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in PayPal by 56.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 191,555 shares of the credit services provider’s stock valued at $11,116,000 after buying an additional 68,883 shares during the last quarter. Finally, Insigneo Advisory Services LLC grew its holdings in PayPal by 11.3% during the 2nd quarter. Insigneo Advisory Services LLC now owns 22,047 shares of the credit services provider’s stock valued at $1,333,000 after buying an additional 2,239 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

PayPal Trading Down 0.3 %

PayPal stock opened at $89.44 on Friday. PayPal Holdings, Inc. has a 52 week low of $55.77 and a 52 week high of $93.66. The stock has a 50-day moving average price of $87.62 and a 200 day moving average price of $77.49. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $89.66 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.54 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The firm 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 business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 earnings per share. Sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PYPL shares. Wells Fargo & Company increased their target price on PayPal from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Piper Sandler increased their price target on shares of PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a report on Friday. Stephens lifted their target price on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods raised their price target on PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Fourteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and a consensus price target of $89.48.

PayPal 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.