Private Capital Management LLC Sells 48,500 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Private Capital Management LLC trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 72.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,700 shares of the credit services provider’s stock after selling 48,500 shares during the period. Private Capital Management LLC’s holdings in PayPal were worth $1,459,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PYPL. Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and increased their target price for the stock from $86.00 to $103.00 in a report on Monday, December 9th. Piper Sandler decreased their price objective on PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday. Wolfe Research raised PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price on the stock in a research report on Friday, December 13th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of PayPal in a research report on Tuesday, February 4th. Finally, Citigroup reiterated an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. Fourteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and an average price target of $89.97.

PayPal Price Performance

NASDAQ:PYPL opened at $70.73 on Friday. The company has a market cap of $69.97 billion, a P/E ratio of 17.64, a P/E/G ratio of 1.27 and a beta of 1.44. The firm’s fifty day moving average price is $83.93 and its two-hundred day moving average price is $80.89. PayPal Holdings, Inc. has a one year low of $56.97 and a one year high of $93.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26.

PayPal (NASDAQ:PYPL) last announced its 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. The business had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. PayPal’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.48 EPS. Equities analysts expect 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.