Fluent Financial LLC Cuts Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Fluent Financial LLC trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,790 shares of the credit services provider’s stock after selling 858 shares during the period. Fluent Financial LLC’s holdings in PayPal were worth $530,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of PYPL. Legal & General Group Plc raised its holdings in PayPal by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after buying an additional 276,287 shares during the period. Clearbridge Investments LLC raised its stake 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 acquiring an additional 1,866,925 shares during the period. Primecap Management Co. CA lifted its holdings in shares of PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after acquiring an additional 3,184,160 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of PayPal by 14.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock worth $183,789,000 after purchasing an additional 409,322 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in PayPal by 5.1% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock valued at $176,789,000 after purchasing an additional 146,643 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on PYPL shares. Sanford C. Bernstein upgraded PayPal from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $71.00 to $78.00 in a research report on Wednesday, July 31st. Monness Crespi & Hardt boosted their price objective on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a report on Monday, July 29th. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. 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. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $69.00 price target on shares of PayPal in a report on Thursday, September 19th. Seventeen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and an average price target of $76.41.

PayPal Price Performance

Shares of NASDAQ PYPL traded up $2.05 during trading on Friday, hitting $79.36. The company had a trading volume of 10,083,594 shares, compared to its average volume of 13,970,383. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $70.69 and a two-hundred day simple moving average of $65.59. The firm has a market capitalization of $83.01 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $80.63.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same quarter last year, the firm posted $0.83 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, research analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share for the current 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.