PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP lessened its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 333,685 shares of the credit services provider’s stock after selling 2,640 shares during the period. Klingenstein Fields & Co. LP’s holdings in PayPal were worth $28,480,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Asset Planning Inc acquired a new position in shares of PayPal during the 4th quarter worth $46,000. Root Financial Partners LLC purchased a new position in shares of PayPal during the 4th quarter worth about $208,000. Catalyst Financial Partners LLC lifted its holdings in shares of PayPal by 9.0% during the 4th quarter. Catalyst Financial Partners LLC now owns 3,618 shares of the credit services provider’s stock worth $309,000 after acquiring an additional 300 shares during the period. Avestar Capital LLC lifted its holdings in shares of PayPal by 12.2% during the 4th quarter. Avestar Capital LLC now owns 9,106 shares of the credit services provider’s stock worth $777,000 after acquiring an additional 991 shares during the period. Finally, Sawgrass Asset Management LLC raised its holdings in PayPal by 4.4% in the fourth quarter. Sawgrass Asset Management LLC now owns 14,944 shares of the credit services provider’s stock valued at $1,275,000 after buying an additional 631 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several recent research reports. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and increased their price objective for the company from $86.00 to $103.00 in a research report on Monday, December 9th. Robert W. Baird reduced their price objective on PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Monness Crespi & Hardt raised their price objective on PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Canaccord Genuity Group raised their target price on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Phillip Securities restated an “accumulate” rating and set a $90.00 price objective (up from $80.00) on shares of PayPal in a research note on Friday, November 1st. Thirteen 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, PayPal currently has an average rating of “Moderate Buy” and an average price target of $90.52.

PayPal Price Performance

NASDAQ:PYPL opened at $76.59 on Friday. PayPal Holdings, Inc. has a one year low of $56.97 and a one year high of $93.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.26. The firm has a market cap of $75.77 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 1.29 and a beta of 1.44. The firm’s fifty day moving average is $86.91 and its two-hundred day moving average is $80.03.

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