PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 10.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 143,814 shares of the credit services provider’s stock after selling 17,676 shares during the period. M&T Bank Corp’s holdings in PayPal were worth $11,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in PYPL. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of PayPal in the 3rd quarter worth about $26,000. SYSTM Wealth Solutions LLC raised its holdings in shares of PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares during the last quarter. Tortoise Investment Management LLC boosted its position in shares of PayPal by 930.0% during the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after buying an additional 465 shares during the period. Planning Capital Management Corp grew its holdings in PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after buying an additional 268 shares in the last quarter. Finally, Financial Management Professionals Inc. increased its position in PayPal by 125.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after acquiring an additional 243 shares during the period. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PYPL shares. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a research note on Saturday, December 14th. Macquarie increased their target price on shares of PayPal from $95.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Phillip Securities reaffirmed an “accumulate” rating and issued a $90.00 price target (up from $80.00) on shares of PayPal in a research note on Friday, November 1st. Piper Sandler reiterated a “neutral” rating and set a $88.00 price objective on shares of PayPal in a research note on Friday, November 22nd. Finally, Morgan Stanley boosted their target price on PayPal from $76.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $88.42.

PayPal Trading Up 0.4 %

Shares of NASDAQ PYPL opened at $87.13 on Monday. The firm has a market capitalization of $87.35 billion, a PE ratio of 20.79, a PEG ratio of 1.66 and a beta of 1.44. PayPal Holdings, Inc. has a one year low of $55.77 and a one year high of $93.66. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $84.65 and a two-hundred day moving average price of $73.20.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period last year, the company posted $0.97 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, analysts predict that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal 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.