In recent developments, Intech Investment Management LLC has significantly reduced its stake in PayPal Holdings, Inc., letting go of a hefty 33% during the third quarter. This information comes from their latest 13F filing with the Securities and Exchange Commission. At the end of this period, Intech had 29,214 shares left, after selling 14,394 shares, valued at around $2.28 million.
Other players in the field made notable moves regarding their PayPal holdings too. Mizuho Securities USA LLC, for instance, dramatically increased its stake by a staggering 12,919.4%, ending up with 10,500,000 shares worth approximately $819 million. Similarly, Primecap Management Co. CA expanded its share count by 180.7% in the second quarter, amounting to 4,946,460 shares valued at $287 million. Clearbridge Investments LLC also upped its game by 28.1%, holding 8,511,242 shares estimated at $493.9 million by the end of the second quarter. On the flip side, International Assets Investment Management LLC saw a massive increase in its PayPal stock by 9,864.9% in the third quarter. Robeco Institutional Asset Management B.V. also increased its position by 139.5%. Collectively, institutional investors and hedge funds own 68.32% of PayPal’s stock.
On the financial front, PayPal’s stock opened at $86.77 on a recent Monday, boasting a market cap of approximately $86.99 billion. Key financial metrics include a P/E ratio of 20.71 and a PEG ratio of 1.51, with a beta of 1.43. The company has been performing within a one-year range of $55.55 to $87.92, with a debt-to-equity ratio of 0.49 and both quick and current ratios of 1.25.
In their last quarterly update on October 29th, PayPal revealed earnings of $1.20 per share, surpassing the consensus forecast of $1.07. The firm reported revenue of $7.85 billion, just shy of the expected $7.88 billion, with an impressive return on equity of 23.44% and a net margin of 14.08%. Notably, there was a 6% revenue increase compared to the previous year’s same quarter, when earnings were $0.97 per share. Analysts predict PayPal will deliver an EPS of 4.57 for the current fiscal year.
Research analysts have had varied takes on PayPal’s performance. Recently, Daiwa America upgraded its rating to a “strong-buy,” while Needham & Company LLC maintained a “hold” stance. Barclays pushed their price target from $85.00 to $92.00, rating it “overweight.” In contrast, Jefferies Financial Group adjusted their target down from $70.00 to $65.00. Stephens, meanwhile, raised their target to $85.00 with an “equal weight” rating. Overall, the consensus amongst investment analysts is a “Moderate Buy” with an average target price of $83.60.
For those interested in an in-depth analysis, you can check out our latest research report on PYPL.
PayPal Holdings, Inc. is renowned for its digital payment platform, offering services that facilitate transactions for merchants and consumers globally. It operates a dual-sided network that encourages seamless connections for users, enabling smooth transactions whether online or in-person. Customers can transfer and receive funds, utilizing diverse funding options like bank accounts, PayPal or Venmo accounts, as well as other credit and debit products including cryptocurrencies.
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