Oppenheimer Asset Management Inc. Sells 3,379 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Oppenheimer Asset Management Inc. reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 104,712 shares of the credit services provider’s stock after selling 3,379 shares during the period. Oppenheimer Asset Management Inc.’s holdings in PayPal were worth $8,937,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PYPL. Kovack Advisors Inc. lifted its stake in shares of PayPal by 8.6% in the fourth quarter. Kovack Advisors Inc. now owns 8,157 shares of the credit services provider’s stock worth $696,000 after acquiring an additional 648 shares during the period. Mn Services Vermogensbeheer B.V. lifted its position in shares of PayPal by 2.9% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 406,199 shares of the credit services provider’s stock worth $34,669,000 after purchasing an additional 11,400 shares during the period. Allegiance Financial Group Advisory Services LLC bought a new stake in shares of PayPal in the 4th quarter valued at $273,000. Stegent Equity Advisors Inc. increased its position in shares of PayPal by 3.2% during the fourth quarter. Stegent Equity Advisors Inc. now owns 4,546 shares of the credit services provider’s stock worth $388,000 after buying an additional 142 shares during the period. Finally, SRN Advisors LLC raised its stake in PayPal by 35.1% during the fourth quarter. SRN Advisors LLC now owns 15,782 shares of the credit services provider’s stock worth $1,347,000 after buying an additional 4,100 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Stock Down 1.8 %

PYPL stock opened at $70.73 on Friday. The stock has a market cap of $69.97 billion, a P/E ratio of 17.64, a P/E/G ratio of 1.27 and a beta of 1.44. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock’s fifty day simple moving average is $83.93 and its two-hundred day simple moving average is $80.89. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66.

PayPal (NASDAQ:PYPL) last issued its quarterly 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. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the firm earned $1.48 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. Analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods increased their price target on PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of PayPal in a report on Tuesday, February 4th. Wells Fargo & Company restated an “equal weight” rating on shares of PayPal in a report on Wednesday, February 5th. Bank of America upgraded shares of PayPal from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $86.00 to $103.00 in a research note on Monday, December 9th. Finally, BTIG Research reissued a “neutral” rating on shares of PayPal in a research note on Tuesday, February 4th. Fourteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus price target of $89.97.

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.