Deerfield Management Company L.P. Series C Sells 1,908 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Deerfield Management Company L.P. Series C lessened its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 30.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 4,307 shares of the credit services provider’s stock after selling 1,908 shares during the period. Deerfield Management Company L.P. Series C’s holdings in PayPal were worth $250,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gryphon Financial Partners LLC lifted its stake in PayPal by 36.2% in the fourth quarter. Gryphon Financial Partners LLC now owns 9,659 shares of the credit services provider’s stock valued at $593,000 after buying an additional 2,569 shares during the period. TD Asset Management Inc lifted its position in shares of PayPal by 36.2% during the 4th quarter. TD Asset Management Inc now owns 649,999 shares of the credit services provider’s stock valued at $39,916,000 after acquiring an additional 172,786 shares during the period. J. W. Coons Advisors LLC lifted its position in shares of PayPal by 8.0% during the 4th quarter. J. W. Coons Advisors LLC now owns 5,423 shares of the credit services provider’s stock valued at $333,000 after acquiring an additional 400 shares during the period. Dorsey & Whitney Trust CO LLC boosted its stake in PayPal by 26.2% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,837 shares of the credit services provider’s stock worth $604,000 after acquiring an additional 2,040 shares in the last quarter. Finally, Alberta Investment Management Corp grew its holdings in PayPal by 30.2% in the fourth quarter. Alberta Investment Management Corp now owns 38,800 shares of the credit services provider’s stock worth $2,383,000 after purchasing an additional 9,000 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PYPL shares. Sanford C. Bernstein raised shares of PayPal from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $71.00 to $78.00 in a research report on Wednesday, July 31st. Argus raised PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Evercore ISI boosted their price objective on PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $84.00 target price on shares of PayPal in a report on Wednesday, July 31st. Finally, Barclays boosted their price target on shares of PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday. Seventeen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $76.38.

PayPal Trading Down 2.7 %

Shares of PYPL stock opened at $77.88 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a market cap of $79.62 billion, a P/E ratio of 19.62, a PEG ratio of 1.12 and a beta of 1.43. The company has a 50 day moving average of $68.78 and a 200-day moving average of $65.09. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $80.63.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same period last year, the business posted $0.83 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. Sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.42 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.