PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 64.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,624 shares of the credit services provider’s stock after selling 70,095 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in PayPal were worth $3,300,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sei Investments Co. boosted its stake in shares of PayPal by 35.4% in the second quarter. Sei Investments Co. now owns 147,259 shares of the credit services provider’s stock worth $8,545,000 after buying an additional 38,488 shares during the last quarter. Gabelli Funds LLC boosted its holdings in PayPal by 10.1% during the second quarter. Gabelli Funds LLC now owns 36,310 shares of the credit services provider’s stock worth $2,107,000 after buying an additional 3,320 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of PayPal by 49.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 46,228 shares of the credit services provider’s stock worth $2,683,000 after acquiring an additional 15,316 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in PayPal by 56.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 191,555 shares of the credit services provider’s stock worth $11,116,000 after purchasing an additional 68,883 shares in the last quarter. Finally, Insigneo Advisory Services LLC raised its stake in shares of PayPal by 11.3% during the 2nd quarter. Insigneo Advisory Services LLC now owns 22,047 shares of the credit services provider’s stock worth $1,333,000 after buying an additional 2,239 shares during the period. 68.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several recent analyst reports. Robert W. Baird boosted their price target on shares of PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price objective on shares of PayPal in a report on Thursday, December 12th. Piper Sandler increased their target price on PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a report on Friday. Citigroup raised their target price on PayPal from $94.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, Phillip Securities reiterated an “accumulate” rating and set a $90.00 price target (up from $80.00) on shares of PayPal in a research report on Friday, November 1st. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.48.

PayPal Stock Performance

Shares of PYPL stock opened at $89.73 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $89.96 billion, a P/E ratio of 21.42, a P/E/G ratio of 1.54 and a beta of 1.44. The firm’s 50 day moving average price is $87.62 and its 200-day moving average price is $77.49. PayPal Holdings, Inc. has a one year low of $55.77 and a one year high of $93.66.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping 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 company had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts predict that PayPal Holdings, Inc. will post 4.58 EPS for the current year.

About PayPal

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.