Knuff & Co LLC Cuts Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Knuff & Co LLC decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 12.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,100 shares of the credit services provider’s stock after selling 1,000 shares during the period. Knuff & Co LLC’s holdings in PayPal were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mizuho Securities USA LLC grew its holdings in shares of PayPal by 12,919.4% during the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after buying an additional 10,419,351 shares in the last quarter. Legal & General Group Plc lifted its stake in PayPal by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after purchasing an additional 276,287 shares in the last quarter. 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 in the last quarter. Primecap Management Co. CA lifted its position in PayPal by 180.7% during the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after buying an additional 3,184,160 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in PayPal by 12.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,189,947 shares of the credit services provider’s stock valued at $248,912,000 after buying an additional 364,851 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PYPL shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $78.00 price target on shares of PayPal in a report on Wednesday, September 18th. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Sunday, November 3rd. Susquehanna increased their price target on shares of PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $83.45.

PayPal Stock Down 1.4 %

Shares of NASDAQ PYPL opened at $84.67 on Tuesday. The company has a market capitalization of $84.89 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.53 and a beta of 1.43. The firm’s 50-day moving average is $79.17 and its two-hundred day moving average is $69.16. PayPal Holdings, Inc. has a 12-month low of $55.28 and a 12-month 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 released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm’s revenue for the quarter 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 anticipate that PayPal Holdings, Inc. will post 4.56 EPS 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.