PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 265,838 shares of the credit services provider’s stock after selling 13,179 shares during the period. MetLife Investment Management LLC’s holdings in PayPal were worth $20,743,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PYPL. Mizuho Securities USA LLC boosted its holdings in PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after purchasing an additional 10,419,351 shares in the last quarter. FMR LLC raised its stake in PayPal by 86.3% in the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after purchasing an additional 7,767,072 shares during the last quarter. Primecap Management Co. CA grew its stake in PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after acquiring an additional 3,184,160 shares during the period. Clearbridge Investments LLC grew its position in shares of 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 purchasing an additional 1,866,925 shares during the period. Finally, International Assets Investment Management LLC increased its stake in shares of PayPal by 9,864.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock valued at $87,336,000 after acquiring an additional 1,108,030 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Stock Down 0.4 %

Shares of NASDAQ PYPL opened at $86.57 on Thursday. PayPal Holdings, Inc. has a 1 year low of $55.77 and a 1 year high of $88.74. The firm’s 50-day moving average is $81.31 and its 200-day moving average is $70.17. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $86.79 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.97 earnings per share. Equities analysts expect that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PYPL shares. Morgan Stanley boosted their target price on PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. BMO Capital Markets increased their price objective on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group boosted their price target on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Sanford C. Bernstein downgraded PayPal from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $75.00 to $80.00 in a research note on Thursday, October 10th. Finally, UBS Group increased their price objective on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average target price of $83.60.

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.