Chevy Chase Trust Holdings LLC Sells 23,835 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Chevy Chase Trust Holdings LLC cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 562,218 shares of the credit services provider’s stock after selling 23,835 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.06% of PayPal worth $43,870,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PYPL. Family Firm Inc. purchased a new stake in shares of PayPal in the second quarter worth approximately $29,000. SYSTM Wealth Solutions LLC raised its position in PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares during the last quarter. Tortoise Investment Management LLC raised its position in PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after buying an additional 465 shares during the last quarter. Planning Capital Management Corp lifted its stake in PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 268 shares in the last quarter. Finally, Financial Management Professionals Inc. boosted its holdings in PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after acquiring an additional 243 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PYPL. BMO Capital Markets increased their target price on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Oppenheimer initiated coverage on shares of PayPal in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Morgan Stanley boosted their target price on PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein lowered PayPal from an “outperform” rating to a “market perform” rating and upped their target price for the company from $75.00 to $80.00 in a report on Thursday, October 10th. Finally, The Goldman Sachs Group lifted their price target on PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, PayPal has an average rating of “Moderate Buy” and an average target price of $83.60.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $86.53 on Tuesday. The company has a 50 day moving average of $81.87 and a 200 day moving average of $70.69. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock has a market cap of $86.75 billion, a P/E ratio of 20.65, a P/E/G ratio of 1.54 and a beta of 1.44. PayPal Holdings, Inc. has a 12 month low of $55.77 and a 12 month high of $88.74.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results 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 net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same period in the previous year, the business earned $0.97 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal 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.