Flputnam Investment Management Co. Cuts Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Flputnam Investment Management Co. cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 33.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,212 shares of the credit services provider’s stock after selling 3,597 shares during the period. Flputnam Investment Management Co.’s holdings in PayPal were worth $443,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PYPL. Moneta Group Investment Advisors LLC boosted its stake in shares of PayPal by 110,462.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock valued at $1,220,431,000 after purchasing an additional 17,120,572 shares during the period. Norges Bank purchased a new position in shares of PayPal in the fourth quarter valued at approximately $1,022,333,000. Clearbridge Investments LLC boosted its stake in shares of PayPal by 122.0% in the first quarter. Clearbridge Investments LLC now owns 6,230,481 shares of the credit services provider’s stock valued at $720,555,000 after purchasing an additional 3,424,122 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of PayPal by 36.2% in the second quarter. Nuveen Asset Management LLC now owns 10,771,095 shares of the credit services provider’s stock valued at $718,755,000 after purchasing an additional 2,862,766 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of PayPal by 420.6% in the third quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock valued at $190,371,000 after purchasing an additional 2,616,774 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Performance

Shares of PYPL opened at $63.26 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $66.59 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.44 and a beta of 1.45. The company’s fifty day moving average is $62.15 and its two-hundred day moving average is $59.89. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $77.94.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.12. The company had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. PayPal’s revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 3.93 earnings per share for the current year.

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the transaction, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Daiwa Capital Markets lowered shares of PayPal from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $64.00 to $62.00 in a research note on Tuesday, February 13th. JPMorgan Chase & Co. decreased their price target on shares of PayPal from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, February 8th. Susquehanna lifted their price target on shares of PayPal from $61.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Citigroup decreased their price target on shares of PayPal from $76.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Finally, William Blair reiterated an “outperform” rating on shares of PayPal in a research note on Thursday, February 8th. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $70.53.

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.