Los Angeles Capital Management LLC Sells 93,153 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Los Angeles Capital Management LLC cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 79.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,646 shares of the credit services provider’s stock after selling 93,153 shares during the quarter. Los Angeles Capital Management LLC’s holdings in PayPal were worth $1,430,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of PayPal in the 4th quarter valued at about $749,561,000. The Manufacturers Life Insurance Company grew its stake in PayPal by 125.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after acquiring an additional 958,130 shares during the period. Clearbridge Investments LLC increased its holdings in shares of PayPal by 15.8% during the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after acquiring an additional 904,804 shares in the last quarter. Boston Partners raised its position in shares of PayPal by 4,024.5% during the fourth quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock worth $48,099,000 after purchasing an additional 764,258 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in shares of PayPal by 1,309.2% in the 4th quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock worth $49,168,000 after purchasing an additional 743,833 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

PayPal Trading Up 0.7 %

Shares of PayPal stock opened at $69.35 on Thursday. The stock has a market capitalization of $70.90 billion, a P/E ratio of 17.47, a P/E/G ratio of 0.98 and a beta of 1.43. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $74.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s 50-day simple moving average is $65.13 and its 200 day simple moving average is $63.78.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 earnings per share. As a group, research analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Susquehanna boosted their price target on shares of PayPal from $71.00 to $83.00 and gave the company a “positive” rating in a research note on Wednesday, July 31st. Evercore ISI upped their target price on shares of PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Citigroup lifted their price target on PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, June 10th. UBS Group increased their price objective on PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Robert W. Baird lifted their target price on PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Eighteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.56.

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.