HBW Advisory Services LLC Sells 12,071 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

HBW Advisory Services LLC cut its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 19.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,393 shares of the credit services provider’s stock after selling 12,071 shares during the period. HBW Advisory Services LLC’s holdings in PayPal were worth $3,932,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PYPL. Legal & General Group Plc lifted its position in PayPal by 3.3% during the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after purchasing an additional 276,287 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares in the last quarter. 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 valued at $287,043,000 after acquiring an additional 3,184,160 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of PayPal by 14.8% in 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. boosted its stake in PayPal by 5.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock worth $176,789,000 after buying an additional 146,643 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PYPL shares. JPMorgan Chase & Co. raised their target price on shares of PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Citigroup upped their target price on PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Susquehanna raised their price target on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a research note on Wednesday, July 31st. Finally, Sanford C. Bernstein raised shares of 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 note on Wednesday, July 31st. Seventeen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $76.41.

PayPal Stock Performance

PYPL stock traded up $1.88 during midday trading on Friday, reaching $79.19. The stock had a trading volume of 5,990,090 shares, compared to its average volume of 13,949,144. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a fifty day simple moving average of $70.27 and a two-hundred day simple moving average of $65.48. The stock has a market cap of $80.96 billion, a PE ratio of 19.91, a P/E/G ratio of 1.11 and a beta of 1.43. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $80.63.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping 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 firm had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

PayPal Company 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.