Platform Technology Partners Sells 397 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Platform Technology Partners trimmed its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,691 shares of the credit services provider’s stock after selling 397 shares during the quarter. Platform Technology Partners’ holdings in PayPal were worth $315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Relyea Zuckerberg Hanson LLC grew its stake in PayPal by 113.8% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after acquiring an additional 3,976 shares during the period. World Investment Advisors LLC acquired a new position in shares of PayPal in the 3rd quarter valued at approximately $387,435,000. United Advisor Group LLC bought a new stake in PayPal during the 3rd quarter worth approximately $810,000. FCG Investment Co acquired a new stake in PayPal during the 3rd quarter worth approximately $1,079,000. Finally, Equity Investment Corp lifted its stake in PayPal by 3.5% in the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after buying an additional 67,497 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PYPL shares. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research report on Wednesday. Stephens lifted their price target on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Barclays boosted their price target on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler lifted their target price on PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Finally, Citigroup upped their price target on PayPal from $97.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday. Fourteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.29.

PayPal Stock Down 1.6 %

PayPal stock opened at $77.31 on Friday. The company’s 50-day moving average price is $87.71 and its two-hundred day moving average price is $79.38. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock has a market cap of $76.48 billion, a P/E ratio of 18.45, a P/E/G ratio of 1.49 and a beta of 1.44. PayPal Holdings, Inc. has a twelve month low of $55.77 and a twelve month high of $93.66.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.48 earnings per share. As a group, analysts expect that PayPal Holdings, Inc. will post 4.58 EPS 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.