Institute for Wealth Management LLC. Lowers Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Institute for Wealth Management LLC. lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,776 shares of the credit services provider’s stock after selling 1,370 shares during the period. Institute for Wealth Management LLC.’s holdings in PayPal were worth $3,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mizuho Securities USA LLC raised its holdings in shares of PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after acquiring an additional 10,419,351 shares in the last quarter. FMR LLC lifted its position in PayPal by 86.3% during 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. World Investment Advisors LLC purchased a new position in shares of PayPal in the 3rd quarter worth $387,435,000. Robeco Institutional Asset Management B.V. raised its position in shares of PayPal by 174.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after buying an additional 2,689,162 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of PayPal by 9,864.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock valued at $87,336,000 after acquiring an additional 1,108,030 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PYPL. Monness Crespi & Hardt lifted their price target on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. upped their target price on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Barclays boosted their price objective on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Macquarie increased their target price on PayPal from $95.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Finally, StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.48.

PayPal Stock Performance

Shares of NASDAQ:PYPL opened at $89.57 on Friday. The business’s 50 day moving average price is $88.04 and its 200-day moving average price is $78.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $89.80 billion, a PE ratio of 21.38, a P/E/G ratio of 1.49 and a beta of 1.44. PayPal Holdings, Inc. has a 1 year low of $55.77 and a 1 year high of $93.66.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share 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 business had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the previous year, the firm posted $0.97 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts expect that PayPal Holdings, Inc. will post 4.58 earnings per share for the current fiscal year.

PayPal 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.