ICICI Prudential Asset Management Co Ltd Decreases Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

ICICI Prudential Asset Management Co Ltd reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,055 shares of the credit services provider’s stock after selling 291 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in PayPal were worth $1,114,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PYPL. Blue Trust Inc. raised its holdings in PayPal by 126.5% in the third quarter. Blue Trust Inc. now owns 7,607 shares of the credit services provider’s stock valued at $594,000 after acquiring an additional 4,249 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in PayPal in the third quarter valued at $265,000. Vest Financial LLC acquired a new stake in PayPal in the third quarter valued at $477,000. Toth Financial Advisory Corp raised its holdings in PayPal by 1,055.3% in the third quarter. Toth Financial Advisory Corp now owns 2,715 shares of the credit services provider’s stock valued at $212,000 after acquiring an additional 2,480 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in PayPal in the third quarter valued at $47,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Price Performance

PYPL stock opened at $78.62 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a one year low of $56.97 and a one year high of $93.66. The firm has a market capitalization of $77.77 billion, a PE ratio of 19.61, a P/E/G ratio of 1.28 and a beta of 1.44. The firm has a 50-day moving average of $86.18 and a two-hundred day moving average of $80.45.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on PYPL. Keefe, Bruyette & Woods upped their price target on shares of PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and increased their target price for the stock from $86.00 to $103.00 in a report on Monday, December 9th. Susquehanna increased their target price on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a report on Monday, January 6th. The Goldman Sachs Group increased their target price on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Phillip Securities reissued an “accumulate” rating and set a $90.00 target price (up from $80.00) on shares of PayPal in a report on Friday, November 1st. 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $90.52.

PayPal Company 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.