New York Life Investment Management LLC Sells 4,013 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

New York Life Investment Management LLC lessened its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,077 shares of the credit services provider’s stock after selling 4,013 shares during the period. New York Life Investment Management LLC’s holdings in PayPal were worth $12,809,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PYPL. Gordian Capital Singapore Pte Ltd bought a new stake in shares of PayPal in the third quarter worth $26,000. Rosenberg Matthew Hamilton lifted its holdings in PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after buying an additional 125 shares during the period. Sugarloaf Wealth Management LLC grew its position in shares of PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares during the last quarter. Planning Capital Management Corp increased its stake in shares of PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after buying an additional 268 shares during the period. Finally, Legacy Investment Solutions LLC bought a new position in shares of PayPal during the third quarter worth about $36,000. 68.32% of the stock is currently owned by institutional investors.

PayPal Price Performance

PYPL opened at $70.73 on Friday. PayPal Holdings, Inc. has a 1 year low of $56.97 and a 1 year high of $93.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $69.97 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 1.27 and a beta of 1.44. The firm’s fifty day moving average price is $83.93 and its two-hundred day moving average price is $80.89.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. The business had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.48 earnings per share. As a group, analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on PYPL shares. Morgan Stanley upped their target price on PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price objective on shares of PayPal in a research report on Thursday, December 12th. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Susquehanna increased their price target on PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a report on Monday, January 6th. Finally, Macquarie boosted their price objective on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Fourteen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PayPal has an average rating of “Moderate Buy” and a consensus price target of $89.97.

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.