Nordea Investment Management AB Sells 1,547,972 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Nordea Investment Management AB trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 75.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 502,893 shares of the credit services provider’s stock after selling 1,547,972 shares during the quarter. Nordea Investment Management AB’s holdings in PayPal were worth $43,068,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Gordian Capital Singapore Pte Ltd bought a new position in shares of PayPal during the third quarter worth approximately $26,000. SYSTM Wealth Solutions LLC increased its stake in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares during the period. Planning Capital Management Corp raised 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 valued at $32,000 after acquiring an additional 268 shares in the last quarter. Financial Management Professionals Inc. grew its holdings in shares of PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after purchasing an additional 243 shares in the last quarter. Finally, Legacy Investment Solutions LLC bought a new position in shares of PayPal in the third quarter worth $36,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PYPL. 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. Wolfe Research upgraded shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a research report on Friday, December 13th. StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. UBS Group lifted their price target on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Macquarie upped their price objective on PayPal from $95.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Fourteen equities research 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 data from MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and an average target price of $88.65.

PayPal Price Performance

PayPal stock opened at $87.97 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. PayPal Holdings, Inc. has a 52-week low of $55.77 and a 52-week high of $93.66. The stock’s 50 day moving average price is $86.15 and its two-hundred day moving average price is $75.34. The stock has a market capitalization of $88.19 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 1.66 and a beta of 1.44.

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 analysts’ consensus estimates 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 business’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities analysts predict that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

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.