Norway Savings Bank Reduces Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Norway Savings Bank cut its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,755 shares of the credit services provider’s stock after selling 965 shares during the period. Norway Savings Bank’s holdings in PayPal were worth $833,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC increased its stake in PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares during the last quarter. Mizuho Securities USA LLC increased its position in shares of 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 during the last quarter. Legal & General Group Plc raised its holdings in PayPal by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after buying an additional 276,287 shares during the period. Clearbridge Investments LLC lifted its position in PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares during the last quarter. Finally, Primecap Management Co. CA boosted its stake in PayPal by 21.6% during the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after buying an additional 1,069,356 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Performance

NASDAQ:PYPL traded down $1.54 during trading hours on Tuesday, reaching $87.99. 3,501,959 shares of the company’s stock were exchanged, compared to its average volume of 5,896,234. PayPal Holdings, Inc. has a 1-year low of $55.77 and a 1-year high of $93.66. 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 firm has a market capitalization of $88.21 billion, a price-to-earnings ratio of 21.00, a P/E/G ratio of 1.66 and a beta of 1.44. The company has a 50-day moving average of $85.99 and a 200 day moving average of $75.15.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $0.97 earnings per share. Research analysts anticipate that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Wall Street Analyst Weigh In

PYPL has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Mizuho raised their price target on PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Macquarie boosted their price objective on PayPal from $95.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Wells Fargo & Company increased their target price on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.65.

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.