BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 25,729 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,826 shares of the credit services provider’s stock after selling 25,729 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in PayPal were worth $12,939,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. United Advisor Group LLC bought a new position in shares of PayPal in the 3rd quarter worth approximately $810,000. FCG Investment Co bought a new position in shares of PayPal in the 3rd quarter worth approximately $1,079,000. Equity Investment Corp raised its position in shares of PayPal by 3.5% in 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. Weil Company Inc. grew its stake in shares of PayPal by 68.9% in the 3rd quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock worth $3,253,000 after buying an additional 17,003 shares during the last quarter. Finally, Brown Financial Advisors purchased a new stake in shares of PayPal in the 2nd quarter worth approximately $1,454,000. Institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

PYPL has been the topic of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Phillip Securities restated an “accumulate” rating and issued a $90.00 price target (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. Royal Bank of Canada upped their price target on PayPal from $84.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their price target on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Sixteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Price Performance

Shares of PayPal stock opened at $86.77 on Friday. PayPal Holdings, Inc. has a one year low of $55.77 and a one year high of $88.74. The stock’s fifty day moving average is $81.69 and its 200 day moving average is $70.49. The stock has a market cap of $86.99 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.54 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same period last year, the firm earned $0.97 EPS. PayPal’s revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current 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.