Intech Investment Management LLC Reduces Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Intech Investment Management LLC trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 33.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,214 shares of the credit services provider’s stock after selling 14,394 shares during the period. Intech Investment Management LLC’s holdings in PayPal were worth $2,280,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Mizuho Securities USA LLC boosted its position in PayPal by 12,919.4% during the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after acquiring an additional 10,419,351 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of PayPal by 180.7% during the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after purchasing an additional 3,184,160 shares during the last quarter. Clearbridge Investments LLC grew its position 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 purchasing an additional 1,866,925 shares during the period. International Assets Investment Management LLC increased its stake in PayPal by 9,864.9% in the third quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock valued at $87,336,000 after purchasing an additional 1,108,030 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in PayPal by 139.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,544,179 shares of the credit services provider’s stock worth $120,492,000 after buying an additional 899,476 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Price Performance

PYPL opened at $86.77 on Monday. The company has a market capitalization of $86.99 billion, a P/E ratio of 20.71, a PEG ratio of 1.51 and a beta of 1.43. The company has a 50-day moving average of $80.41 and a 200-day moving average of $69.72. 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 1-year low of $55.55 and a 1-year high of $87.92.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on PYPL shares. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Wednesday, October 30th. Barclays upped their price objective on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Jefferies Financial Group reduced their target price on PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Finally, Stephens upped their price target on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Sixteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, PayPal currently has an average rating of “Moderate Buy” and an average price target of $83.60.

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.