Norden Group LLC Trims Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Norden Group LLC trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 10.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,670 shares of the credit services provider’s stock after selling 424 shares during the period. Norden Group LLC’s holdings in PayPal were worth $213,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in PayPal in the 4th quarter valued at about $749,561,000. The Manufacturers Life Insurance Company lifted its stake in shares of PayPal by 125.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after buying an additional 958,130 shares during the period. Clearbridge Investments LLC boosted its position in PayPal by 15.8% during the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock worth $445,103,000 after acquiring an additional 904,804 shares during the last quarter. Boston Partners grew its stake in PayPal by 4,024.5% in the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock worth $48,099,000 after acquiring an additional 764,258 shares during the period. Finally, Panagora Asset Management Inc. raised its holdings in PayPal by 1,309.2% in the 4th quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock valued at $49,168,000 after acquiring an additional 743,833 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PYPL shares. StockNews.com cut PayPal from a “buy” rating to a “hold” rating in a report on Tuesday. Daiwa America upgraded PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Macquarie upped their price objective on shares of PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Robert W. Baird raised their target price on shares of PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, William Blair raised shares of PayPal to a “hold” rating in a research report on Tuesday, July 30th. Eighteen 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. Based on data from MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and an average price target of $75.56.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $69.35 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $74.40. The business has a 50 day moving average price of $64.73 and a two-hundred day moving average price of $63.67. The firm has a market cap of $70.90 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 0.98 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 earnings per share. Sell-side analysts expect 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.