Successful Portfolios LLC Sells 170 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Successful Portfolios LLC reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,966 shares of the credit services provider’s stock after selling 170 shares during the period. Successful Portfolios LLC’s holdings in PayPal were worth $387,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Primecap Management Co. CA raised its position in shares of 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 in the last quarter. Clearbridge Investments LLC increased its position in PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in PayPal by 31.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock valued at $194,262,000 after purchasing an additional 687,940 shares during the last quarter. Swedbank AB acquired a new position in PayPal during the 1st quarter valued at about $42,297,000. Finally, Greenvale Capital LLP boosted its stake in PayPal by 54.5% during the 4th quarter. Greenvale Capital LLP now owns 1,700,000 shares of the credit services provider’s stock valued at $104,397,000 after purchasing an additional 600,000 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PYPL. Mizuho reiterated an “outperform” rating and set a $90.00 price target on shares of PayPal in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $78.00 price objective on shares of PayPal in a research note on Wednesday, September 18th. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Macquarie boosted their target price on shares of PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $69.00 target price on shares of PayPal in a report on Thursday, September 19th. Seventeen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PayPal has a consensus rating of “Moderate Buy” and an average target price of $76.47.

PayPal Stock Up 2.0 %

Shares of PYPL traded up $1.61 on Friday, hitting $80.59. 2,184,907 shares of the stock traded hands, compared to its average volume of 13,810,105. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $82.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The business has a 50 day simple moving average of $72.05 and a 200 day simple moving average of $66.02. The company has a market capitalization of $82.39 billion, a PE ratio of 19.47, a P/E/G ratio of 1.49 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.20. The company had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company posted $0.83 earnings per share. As a group, equities analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal 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.