TCW Group Inc. Sells 26,070 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

TCW Group Inc. trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 64.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 14,175 shares of the credit services provider’s stock after selling 26,070 shares during the period. TCW Group Inc.’s holdings in PayPal were worth $1,106,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. FMR LLC raised its position in PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after purchasing an additional 7,767,072 shares during the last quarter. Mizuho Securities USA LLC increased its stake in shares of PayPal by 12,919.4% in the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after buying an additional 10,419,351 shares during the period. Legal & General Group Plc raised its holdings in PayPal by 3.3% in the 2nd 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 during the last quarter. Clearbridge Investments LLC boosted its position in PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after buying an additional 1,866,925 shares during the period. Finally, Primecap Management Co. CA grew its holdings in PayPal by 21.6% during the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after acquiring an additional 1,069,356 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PYPL shares. Monness Crespi & Hardt raised their price target on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods lifted their target price on PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday. Morgan Stanley increased their price target on PayPal from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group lifted their price objective on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Phillip Securities reissued an “accumulate” rating and set a $90.00 target price (up previously from $80.00) on shares of PayPal in a research report on Friday, November 1st. Sixteen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $86.07.

PayPal Stock Performance

PYPL opened at $89.40 on Friday. PayPal Holdings, Inc. has a 1-year low of $55.77 and a 1-year high of $93.66. The company has a market cap of $89.63 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.66 and a beta of 1.44. The company’s fifty day moving average price is $83.40 and its two-hundred day moving average price is $71.90. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49.

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

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.