MCF Advisors LLC Cuts Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

MCF Advisors LLC reduced its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 14.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,669 shares of the credit services provider’s stock after selling 280 shares during the quarter. MCF Advisors LLC’s holdings in PayPal were worth $130,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Legal & General Group Plc increased its position in shares of PayPal by 3.3% in 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 buying an additional 276,287 shares in the last quarter. Clearbridge Investments LLC grew its stake in PayPal by 28.1% in 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 acquiring an additional 1,866,925 shares during the period. Primecap Management Co. CA grew its stake in 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 period. Dimensional Fund Advisors LP increased its holdings in 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 acquiring an additional 409,322 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position 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 acquiring an additional 146,643 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Up 0.4 %

Shares of PYPL traded up $0.31 during mid-day trading on Friday, hitting $81.70. 7,201,013 shares of the company’s stock were exchanged, compared to its average volume of 13,524,066. The company has a market cap of $85.46 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 1.50 and a beta of 1.44. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $82.80. 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 stock’s 50-day moving average is $75.65 and its 200-day moving average is $67.16.

PayPal (NASDAQ:PYPL) last issued 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 net margin of 14.30% and a return on equity of 22.82%. 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 firm posted $0.83 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PYPL shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $84.00 target price on shares of PayPal in a research report on Wednesday, July 31st. Monness Crespi & Hardt increased their target price on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $78.00 price target on shares of PayPal in a research note on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft boosted their price target on PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, Barclays raised their price objective on PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Seventeen investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.03.

About PayPal

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.