Fisher Asset Management LLC Cuts Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Fisher Asset Management LLC decreased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 416,027 shares of the credit services provider’s stock after selling 41,580 shares during the period. Fisher Asset Management LLC’s holdings in PayPal were worth $25,548,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Morgan Stanley grew its position in PayPal by 4.5% in the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after acquiring an additional 873,181 shares in the last quarter. Norges Bank bought a new stake in PayPal in the fourth quarter valued at $749,561,000. Northern Trust Corp lifted its stake in PayPal by 0.7% in the third quarter. Northern Trust Corp now owns 11,767,054 shares of the credit services provider’s stock valued at $687,902,000 after buying an additional 78,105 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of PayPal by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock valued at $428,449,000 after purchasing an additional 265,116 shares in the last quarter. Finally, FMR LLC raised its stake in shares of PayPal by 29.5% during the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after purchasing an additional 1,575,930 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PYPL shares. Monness Crespi & Hardt lifted their price objective on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $78.00 price target on shares of PayPal in a research note on Thursday, June 13th. Stephens lifted their price target on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. UBS Group lifted their price target on PayPal from $63.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada lifted their price target on PayPal from $74.00 to $84.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Twenty investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.82.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $60.13 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $64.09 and its two-hundred day moving average is $62.44. The company has a market cap of $62.90 billion, a P/E ratio of 15.15, a P/E/G ratio of 0.99 and a beta of 1.43. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $76.54.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.14). The business had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 earnings per share. On average, equities analysts expect that PayPal Holdings, Inc. will post 4.14 EPS for the current year.

Insider Activity

In other news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the sale, the director now directly owns 13,976 shares in the company, valued at $861,620.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.14% of the stock is currently owned by company insiders.

PayPal 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.