Penserra Capital Management LLC Cuts Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Penserra Capital Management LLC lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 12.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 305,489 shares of the credit services provider’s stock after selling 42,467 shares during the period. Penserra Capital Management LLC’s holdings in PayPal were worth $23,835,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PYPL. Family Firm Inc. purchased a new stake in PayPal during the 2nd quarter worth approximately $29,000. 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 buying an additional 167 shares in the last quarter. Tortoise Investment Management LLC increased its stake in PayPal by 930.0% during the 2nd 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 in the last quarter. Planning Capital Management Corp increased its stake in PayPal by 186.1% during 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, LRI Investments LLC purchased a new stake in PayPal during the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PYPL. Jefferies Financial Group cut their price objective on PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. The Goldman Sachs Group upped their price target on PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Piper Sandler restated a “neutral” rating and issued a $88.00 price target on shares of PayPal in a research report on Friday. Mizuho upped their price target on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Sanford C. Bernstein lowered PayPal from an “outperform” rating to a “market perform” rating and upped their price target for the company from $75.00 to $80.00 in a research report on Thursday, October 10th. Sixteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.60.

PayPal Stock Performance

NASDAQ:PYPL opened at $86.77 on Friday. The business’s fifty day moving average price is $80.41 and its 200 day moving average price is $69.68. The firm has a market capitalization of $86.99 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43. PayPal Holdings, Inc. has a 12 month low of $55.55 and a 12 month high of $87.92. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the company posted $0.97 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate 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.