DAVENPORT & Co LLC Sells 768 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

DAVENPORT & Co LLC decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,257 shares of the credit services provider’s stock after selling 768 shares during the period. DAVENPORT & Co LLC’s holdings in PayPal were worth $790,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PYPL. Rosenberg Matthew Hamilton grew its position in PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 125 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of PayPal during the third quarter valued at $26,000. Sugarloaf Wealth Management LLC grew its holdings in shares of PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. Planning Capital Management Corp grew its holdings in shares of PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 268 shares during the last quarter. Finally, Financial Management Professionals Inc. increased its stake in PayPal by 125.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after buying an additional 243 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Price Performance

Shares of PYPL stock opened at $78.57 on Friday. PayPal Holdings, Inc. has a fifty-two week low of $55.77 and a fifty-two week high of $93.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market capitalization of $78.77 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.49 and a beta of 1.44. The stock’s 50-day simple moving average is $87.87 and its 200-day simple moving average is $79.39.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period last year, the business earned $1.48 EPS. PayPal’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities analysts forecast that PayPal Holdings, Inc. will post 4.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PYPL has been the topic of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research note on Wednesday. Phillip Securities reiterated an “accumulate” rating and issued a $90.00 price target (up previously from $80.00) on shares of PayPal in a report on Friday, November 1st. Robert W. Baird reduced their price objective on PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 target price on shares of PayPal in a report on Thursday, December 12th. Finally, Stephens increased their price target on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.29.

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.