Point72 Asia Singapore Pte. Ltd. Sells 15,672 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Point72 Asia Singapore Pte. Ltd. cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 21.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,337 shares of the credit services provider’s stock after selling 15,672 shares during the period. PayPal comprises approximately 0.8% of Point72 Asia Singapore Pte. Ltd.’s investment portfolio, making the stock its 19th biggest position. Point72 Asia Singapore Pte. Ltd.’s holdings in PayPal were worth $4,474,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PYPL. FMR LLC grew its position in PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after acquiring an additional 7,767,072 shares during the last quarter. Mizuho Securities USA LLC increased its position in PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after purchasing an additional 10,419,351 shares in the last quarter. Legal & General Group Plc grew its stake in shares of PayPal by 3.3% during the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after buying an additional 276,287 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after buying an additional 1,866,925 shares in the last quarter. Finally, Primecap Management Co. CA lifted its stake in shares of PayPal by 21.6% in the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after acquiring an additional 1,069,356 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Performance

Shares of PYPL 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 company has a market cap of $86.99 billion, a PE ratio of 20.71, a P/E/G ratio of 1.54 and a beta of 1.43. The stock has a 50-day moving average of $81.69 and a 200-day moving average of $70.49. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating 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 firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter last year, the firm posted $0.97 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Canaccord Genuity Group upped their target price on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Stephens upped their price objective on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Morgan Stanley lifted their target price on shares of PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price target on shares of PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Sanford C. Bernstein downgraded shares of PayPal from an “outperform” rating to a “market perform” rating and raised their price target for the company from $75.00 to $80.00 in a research note on Thursday, October 10th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.60.

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.