PayPal Holdings, Inc. (NASDAQ:PYPL) Stock Holdings Lessened by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 712,023 shares of the credit services provider’s stock after selling 69,885 shares during the period. Royal London Asset Management Ltd. owned about 0.07% of PayPal worth $41,319,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PYPL. Fiduciary Alliance LLC increased its stake in PayPal by 604.7% in the 1st quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock worth $3,452,000 after purchasing an additional 45,544 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of PayPal by 44.6% in the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after acquiring an additional 381 shares in the last quarter. Blue Trust Inc. boosted its stake in PayPal by 21.2% in the 2nd quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock worth $195,000 after purchasing an additional 588 shares during the period. Allspring Global Investments Holdings LLC grew its position in PayPal by 18.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock worth $15,686,000 after purchasing an additional 36,994 shares in the last quarter. Finally, Brown Shipley& Co Ltd raised its stake in PayPal by 6.0% during the 4th quarter. Brown Shipley& Co Ltd now owns 51,372 shares of the credit services provider’s stock valued at $3,155,000 after purchasing an additional 2,919 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PYPL. Evercore ISI lifted their price target on PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $84.00 target price on shares of PayPal in a report on Wednesday, July 31st. Monness Crespi & Hardt raised their price target on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 29th. William Blair upgraded shares of PayPal to a “hold” rating in a research note on Tuesday, July 30th. Finally, Macquarie lifted their target price on shares of PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Eighteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, PayPal presently has an average rating of “Moderate Buy” and a consensus target price of $75.56.

PayPal Stock Performance

NASDAQ PYPL opened at $68.85 on Wednesday. The company’s fifty day moving average is $64.93 and its two-hundred day moving average is $63.74. The firm has a market capitalization of $70.39 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 0.98 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $74.40.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same period in the previous year, the company posted $0.83 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current 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.