Bank of New York Mellon Corp Cuts Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Bank of New York Mellon Corp decreased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.3% during the 4th quarter, Holdings Channel reports. The fund owned 6,478,072 shares of the credit services provider’s stock after selling 155,302 shares during the quarter. Bank of New York Mellon Corp’s holdings in PayPal were worth $552,903,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PYPL. Mizuho Securities USA LLC raised its holdings in shares of PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after purchasing an additional 10,419,351 shares in the last quarter. FMR LLC grew its stake in shares of PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after purchasing an additional 7,767,072 shares in the last quarter. World Investment Advisors LLC purchased a new position in PayPal in the third quarter valued at $387,435,000. Robeco Institutional Asset Management B.V. raised its stake in PayPal by 174.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after buying an additional 2,689,162 shares in the last quarter. Finally, Primecap Management Co. CA lifted its holdings in PayPal by 21.6% during the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after buying an additional 1,069,356 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $74.07 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $84.52 and a 200 day moving average price of $81.02. PayPal Holdings, Inc. has a 52 week low of $56.97 and a 52 week high of $93.66. The company has a market cap of $73.27 billion, a P/E ratio of 18.47, a PEG ratio of 1.27 and a beta of 1.44.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PYPL. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of PayPal in a report on Tuesday, February 4th. The Goldman Sachs Group increased their price target on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Macquarie boosted their price objective on shares of PayPal from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Phillip Securities restated an “accumulate” rating and issued a $90.00 target price (up previously from $80.00) on shares of PayPal in a report on Friday, November 1st. Finally, UBS Group lifted 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. Fourteen equities research 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 company’s stock. According to MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and an average target price of $90.52.

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.