Princeton Capital Management LLC Sells 1,815 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Princeton Capital Management LLC cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 17.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,579 shares of the credit services provider’s stock after selling 1,815 shares during the period. Princeton Capital Management LLC’s holdings in PayPal were worth $669,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mizuho Securities USA LLC raised its stake in shares of PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after purchasing an additional 10,419,351 shares during the period. Legal & General Group Plc raised its position in PayPal by 3.3% in the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after acquiring an additional 276,287 shares during the period. Clearbridge Investments LLC boosted its stake in PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after acquiring an additional 1,866,925 shares during the last quarter. Primecap Management Co. CA grew its position in shares of PayPal by 180.7% during the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after acquiring an additional 3,184,160 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of PayPal by 12.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,189,947 shares of the credit services provider’s stock worth $248,912,000 after purchasing an additional 364,851 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Performance

NASDAQ:PYPL opened at $84.67 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. PayPal Holdings, Inc. has a fifty-two week low of $55.28 and a fifty-two week high of $87.92. The business has a 50 day moving average price of $79.17 and a 200-day moving average price of $69.16. The firm has a market cap of $84.89 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.53 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $7.88 billion. During the same period in the prior year, the business posted $0.97 earnings per share. PayPal’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts predict that PayPal Holdings, Inc. will post 4.56 earnings per share for the current year.

Analyst Ratings Changes

PYPL has been the topic of several research analyst reports. TD Cowen upped their price objective on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and upped their price target for the company from $68.00 to $72.00 in a research report on Friday, August 9th. Phillip Securities reissued an “accumulate” rating and issued a $90.00 price objective (up previously from $80.00) on shares of PayPal in a report on Friday, November 1st. Macquarie upped their price objective on shares of PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their target price on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Fifteen equities 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 stock. According to data from MarketBeat, PayPal currently has a consensus 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.