New York Life Investment Management LLC Has $12.81 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

New York Life Investment Management LLC cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,077 shares of the credit services provider’s stock after selling 4,013 shares during the quarter. 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 also recently added to or reduced their stakes in the business. Relyea Zuckerberg Hanson LLC lifted its stake in shares of PayPal by 113.8% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after purchasing an additional 3,976 shares during the last quarter. World Investment Advisors LLC bought a new position in PayPal during the third quarter valued at about $387,435,000. United Advisor Group LLC acquired a new stake in shares of PayPal in the third quarter worth about $810,000. Equity Investment Corp boosted its stake in shares of PayPal by 3.5% during the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock worth $155,927,000 after acquiring an additional 67,497 shares in the last quarter. Finally, Weil Company Inc. increased its holdings in shares of PayPal by 68.9% during the 3rd quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after acquiring an additional 17,003 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several analyst reports. Phillip Securities restated an “accumulate” rating and issued a $90.00 target price (up from $80.00) on shares of PayPal in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a report on Wednesday. Wells Fargo & Company reiterated an “equal weight” rating on shares of PayPal in a research note on Wednesday, February 5th. BTIG Research reissued a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Finally, Susquehanna raised their price target on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research report on Monday, January 6th. Fourteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.97.

PayPal Stock Performance

Shares of PayPal stock opened at $70.73 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66. The stock’s fifty day simple moving average is $83.93 and its 200 day simple moving average is $80.89. The company has a market capitalization of $69.97 billion, a PE ratio of 17.64, a PEG ratio of 1.27 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $8.37 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 earnings per share. On average, research analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current 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.