Vanguard Group Inc. Has $7.34 Billion Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Vanguard Group Inc. cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,945,510 shares of the credit services provider’s stock after selling 778,757 shares during the period. Vanguard Group Inc. owned about 0.09% of PayPal worth $7,335,449,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PYPL. United Bank raised its holdings in shares of PayPal by 9.7% in the 3rd quarter. United Bank now owns 8,941 shares of the credit services provider’s stock worth $698,000 after buying an additional 794 shares in the last quarter. Meridian Wealth Management LLC raised its holdings in shares of PayPal by 21.1% in the 3rd quarter. Meridian Wealth Management LLC now owns 9,499 shares of the credit services provider’s stock worth $741,000 after buying an additional 1,652 shares in the last quarter. Nicolet Advisory Services LLC raised its holdings in shares of PayPal by 13.2% in the 3rd quarter. Nicolet Advisory Services LLC now owns 4,623 shares of the credit services provider’s stock worth $357,000 after buying an additional 539 shares in the last quarter. Cerity Partners LLC increased its holdings in PayPal by 27.9% during the 3rd quarter. Cerity Partners LLC now owns 289,735 shares of the credit services provider’s stock valued at $22,608,000 after purchasing an additional 63,288 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its holdings in PayPal by 9.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 18,318 shares of the credit services provider’s stock valued at $1,429,000 after purchasing an additional 1,652 shares in the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PYPL has been the subject of a number of recent analyst reports. Piper Sandler dropped their price target on PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of PayPal in a report on Wednesday, February 5th. Robert W. Baird dropped their price target on PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a report on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods raised their price target on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.03.

Insider Activity

In other news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.

PayPal Stock Up 0.7 %

NASDAQ:PYPL opened at $70.19 on Monday. PayPal Holdings, Inc. has a 1 year low of $56.97 and a 1 year 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 stock has a market cap of $69.43 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.27 and a beta of 1.52. The stock has a 50-day moving average price of $78.19 and a two-hundred day moving average price of $80.92.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results 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. The company had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.48 earnings per share. As a group, equities analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

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.