Charles Schwab Investment Management Inc. Has $509.63 Million Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Charles Schwab Investment Management Inc. reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,531,139 shares of the credit services provider’s stock after selling 707,438 shares during the period. Charles Schwab Investment Management Inc. owned about 0.65% of PayPal worth $509,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bessemer Group Inc. grew its stake in shares of PayPal by 18.5% in the first quarter. Bessemer Group Inc. now owns 12,898 shares of the credit services provider’s stock worth $863,000 after purchasing an additional 2,018 shares during the last quarter. CreativeOne Wealth LLC bought a new stake in PayPal during the first quarter valued at $429,000. Westwood Holdings Group Inc. bought a new position in shares of PayPal in the 1st quarter worth about $251,000. Truvestments Capital LLC increased its stake in shares of PayPal by 1,036.3% in the 1st quarter. Truvestments Capital LLC now owns 7,295 shares of the credit services provider’s stock valued at $489,000 after acquiring an additional 6,653 shares in the last quarter. Finally, Linscomb Wealth Inc. grew its holdings in PayPal by 5.4% in the first quarter. Linscomb Wealth Inc. now owns 26,066 shares of the credit services provider’s stock worth $1,746,000 after purchasing an additional 1,333 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Price Performance

PayPal stock opened at $85.04 on Friday. The firm’s fifty day moving average is $80.07 and its 200 day moving average is $69.51. PayPal Holdings, Inc. has a 52-week low of $55.55 and a 52-week high of $87.92. 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 cap of $85.26 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.50 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same period in the prior year, the firm posted $0.97 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Sell-side analysts forecast that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PYPL. Royal Bank of Canada lifted their price target on shares of PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays increased their target price on shares of PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, September 27th. UBS Group lifted their target price on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and raised their target price for the company from $68.00 to $72.00 in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.45.

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.