PayPal Holdings, Inc. (NASDAQ:PYPL) Position Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 814,731 shares of the credit services provider’s stock after selling 29,975 shares during the period. Victory Capital Management Inc. owned about 0.08% of PayPal worth $63,573,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PYPL. Bruce G. Allen Investments LLC raised its stake in PayPal by 7.4% during the third quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after acquiring an additional 124 shares during the period. First United Bank & Trust grew its stake in PayPal by 6.4% during the 3rd quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after buying an additional 145 shares during the last quarter. Ritholtz Wealth Management grew its stake in PayPal by 3.3% during the 3rd quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock worth $369,000 after buying an additional 152 shares during the last quarter. SYSTM Wealth Solutions LLC boosted its holdings in shares of PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 167 shares during the period. Finally, First Bank & Trust grew its position in shares of PayPal by 4.4% during the third quarter. First Bank & Trust now owns 4,016 shares of the credit services provider’s stock worth $313,000 after acquiring an additional 171 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Down 1.7 %

PYPL opened at $85.79 on Friday. The company has a market capitalization of $86.01 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43. The business has a 50-day moving average of $78.25 and a 200-day moving average of $68.76. PayPal Holdings, Inc. has a fifty-two week low of $55.28 and a fifty-two week high of $87.92. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the previous year, the company earned $0.97 earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on PYPL shares. TD Cowen boosted their target price on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Barclays increased their price objective on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Mizuho lifted their target price on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Susquehanna raised their price target on PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley upped their price objective on shares of PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.45.

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.