Impax Asset Management Group plc Lowers Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Impax Asset Management Group plc reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.2% during the 4th quarter, HoldingsChannel reports. The firm owned 13,480 shares of the credit services provider’s stock after selling 167 shares during the period. Impax Asset Management Group plc’s holdings in PayPal were worth $1,151,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Allworth Financial LP lifted its holdings in shares of PayPal by 11.4% in the 3rd quarter. Allworth Financial LP now owns 5,727 shares of the credit services provider’s stock valued at $447,000 after buying an additional 588 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of PayPal by 40.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 73,537 shares of the credit services provider’s stock valued at $5,738,000 after buying an additional 21,002 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in shares of PayPal by 62.8% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 10,348 shares of the credit services provider’s stock valued at $807,000 after buying an additional 3,991 shares during the period. Baker Tilly Wealth Management LLC lifted its holdings in shares of PayPal by 18.0% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,633 shares of the credit services provider’s stock valued at $362,000 after buying an additional 706 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of PayPal by 0.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 329,607 shares of the credit services provider’s stock valued at $25,719,000 after buying an additional 2,591 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on PYPL. The Goldman Sachs Group lifted their price objective on PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Bank of America raised PayPal from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $86.00 to $103.00 in a report on Monday, December 9th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of PayPal in a report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a report on Wednesday, February 5th. Finally, Piper Sandler lifted their price objective on PayPal from $88.00 to $93.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Fourteen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.52.

PayPal Price Performance

PYPL stock opened at $74.07 on Wednesday. The stock has a 50-day moving average price of $84.52 and a two-hundred day moving average price of $81.02. PayPal Holdings, Inc. has a 12-month low of $56.97 and a 12-month high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The company has a market cap of $73.27 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 1.27 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, research analysts predict that PayPal Holdings, Inc. will post 5.03 EPS 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.