abrdn plc Sells 63,522 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

abrdn plc decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.5% during the fourth quarter, HoldingsChannel reports. The fund owned 785,701 shares of the credit services provider’s stock after selling 63,522 shares during the quarter. abrdn plc’s holdings in PayPal were worth $67,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PYPL. Algert Global LLC purchased a new stake in PayPal in the second quarter worth approximately $435,000. Czech National Bank boosted its stake in shares of PayPal by 4.5% in the 3rd quarter. Czech National Bank now owns 208,260 shares of the credit services provider’s stock valued at $16,251,000 after purchasing an additional 8,925 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of PayPal by 37.2% during the 3rd quarter. GAMMA Investing LLC now owns 9,652 shares of the credit services provider’s stock valued at $753,000 after purchasing an additional 2,616 shares during the last quarter. Diversified Trust Co purchased a new position in PayPal in the 3rd quarter worth $1,367,000. Finally, Miracle Mile Advisors LLC lifted its stake in PayPal by 35.5% in the third quarter. Miracle Mile Advisors LLC now owns 15,975 shares of the credit services provider’s stock worth $1,247,000 after purchasing an additional 4,188 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PYPL. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Macquarie upped their price target on PayPal from $95.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Wells Fargo & Company lifted their price objective on PayPal from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods upped their target price on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price target on shares of PayPal in a report on Thursday, December 12th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.48.

PayPal Price Performance

Shares of PYPL opened at $77.72 on Wednesday. The stock has a market capitalization of $77.92 billion, a PE ratio of 18.55, a PEG ratio of 1.49 and a beta of 1.44. The company has a 50 day moving average price of $88.20 and a 200-day moving average price of $79.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. PayPal Holdings, Inc. has a fifty-two week low of $55.77 and a fifty-two week high of $93.66.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the company posted $1.48 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities analysts predict that PayPal Holdings, Inc. will post 4.58 earnings per share 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.