China Universal Asset Management Co. Ltd. Sells 3,389 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

China Universal Asset Management Co. Ltd. trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 35.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,289 shares of the credit services provider’s stock after selling 3,389 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in PayPal were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PYPL. Norges Bank acquired a new position in PayPal in the 4th quarter valued at approximately $749,561,000. The Manufacturers Life Insurance Company raised its stake in shares of PayPal by 125.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after purchasing an additional 958,130 shares in the last quarter. Clearbridge Investments LLC lifted its position in PayPal by 15.8% in the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock worth $445,103,000 after purchasing an additional 904,804 shares during the period. Boston Partners boosted its stake in PayPal by 4,024.5% during the fourth quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock worth $48,099,000 after buying an additional 764,258 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in PayPal by 1,309.2% in the 4th quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock valued at $49,168,000 after buying an additional 743,833 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Trading Up 2.5 %

Shares of NASDAQ:PYPL traded up $1.74 during trading on Tuesday, hitting $71.17. 9,538,000 shares of the company’s stock were exchanged, compared to its average volume of 14,424,573. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a market cap of $72.76 billion, a P/E ratio of 17.96, a PEG ratio of 0.94 and a beta of 1.42. The firm has a 50-day moving average price of $61.27 and a two-hundred day moving average price of $62.42. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $72.56.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PYPL. Stephens lifted their target price on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Barclays lifted their price objective on PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Citigroup increased their target price on PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, June 10th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $69.00 price target on shares of PayPal in a research note on Monday, June 24th. Finally, Wells Fargo & Company increased their price objective on PayPal from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Seventeen analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.56.

Insider Buying and Selling at PayPal

In other news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the completion of the transaction, the director now directly owns 13,976 shares in the company, valued at approximately $861,620.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.14% of the company’s stock.

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.