Rhumbline Advisers Sells 76,214 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Rhumbline Advisers lessened its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,000,324 shares of the credit services provider’s stock after selling 76,214 shares during the period. Rhumbline Advisers’ holdings in PayPal were worth $170,728,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Relyea Zuckerberg Hanson LLC lifted its stake in PayPal by 113.8% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock worth $638,000 after purchasing an additional 3,976 shares during the period. World Investment Advisors LLC bought a new position in PayPal during the third quarter worth about $387,435,000. United Advisor Group LLC bought a new position in PayPal during the third quarter worth about $810,000. FCG Investment Co bought a new position in PayPal during the third quarter worth about $1,079,000. Finally, Equity Investment Corp lifted its stake in PayPal by 3.5% during the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock worth $155,927,000 after purchasing an additional 67,497 shares during the period. Institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on PYPL. UBS Group raised their price target on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their price objective on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird dropped their price objective on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Wolfe Research raised shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective for the company in a report on Friday, December 13th. Finally, BMO Capital Markets raised their price objective on shares of PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Thirteen analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.52.

PayPal Price Performance

PYPL opened at $77.97 on Friday. The company has a fifty day moving average price of $86.66 and a two-hundred day moving average price of $80.01. The firm has a market capitalization of $77.13 billion, a PE ratio of 19.44, a P/E/G ratio of 1.29 and a beta of 1.44. PayPal Holdings, Inc. has a 52 week low of $56.97 and a 52 week high of $93.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.26.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $1.48 earnings per share. As a group, analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

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.