Chevy Chase Trust Holdings LLC Reduces Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Chevy Chase Trust Holdings LLC reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 540,025 shares of the credit services provider’s stock after selling 22,193 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in PayPal were worth $46,091,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PYPL. Fulton Breakefield Broenniman LLC purchased a new position in shares of PayPal during the third quarter worth approximately $232,000. Good Life Advisors LLC grew its position in shares of PayPal by 14.7% during the third quarter. Good Life Advisors LLC now owns 6,151 shares of the credit services provider’s stock worth $480,000 after acquiring an additional 786 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of PayPal by 17.5% during the third quarter. Global Retirement Partners LLC now owns 8,285 shares of the credit services provider’s stock worth $646,000 after acquiring an additional 1,232 shares during the last quarter. Bleakley Financial Group LLC grew its position in shares of PayPal by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 16,041 shares of the credit services provider’s stock worth $1,252,000 after acquiring an additional 704 shares during the last quarter. Finally, Marshall Financial Group LLC purchased a new position in shares of PayPal during the third quarter worth approximately $254,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PYPL. BMO Capital Markets increased their price target on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Macquarie raised their target price on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a report on Monday, February 10th. Bank of America raised PayPal from a “neutral” rating to a “buy” rating and raised their target price for the company from $86.00 to $103.00 in a report on Monday, December 9th. Barclays raised their target price on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 target price on shares of PayPal in a report on Thursday, December 12th. Thirteen equities 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.52.

PayPal Stock Up 1.8 %

Shares of NASDAQ:PYPL opened at $77.97 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.26. PayPal Holdings, Inc. has a 1 year low of $56.97 and a 1 year high of $93.66. The stock has a market capitalization of $77.13 billion, a P/E ratio of 19.44, a PEG ratio of 1.29 and a beta of 1.44. The stock has a 50-day simple moving average of $86.66 and a 200-day simple moving average of $80.01.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.48 EPS. Equities analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

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.