Cullinan Associates Inc. Lowers Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Cullinan Associates Inc. lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 25.4% in the 4th quarter, Holdings Channel reports. The fund owned 21,415 shares of the credit services provider’s stock after selling 7,300 shares during the quarter. Cullinan Associates Inc.’s holdings in PayPal were worth $1,828,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC boosted its holdings in PayPal by 86.3% in 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 in the last quarter. Mizuho Securities USA LLC grew its position in 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 valued at $819,315,000 after purchasing an additional 10,419,351 shares during the last quarter. Primecap Management Co. CA increased its stake in PayPal by 21.6% during the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after purchasing an additional 1,069,356 shares in the last quarter. World Investment Advisors LLC purchased a new position in PayPal in the third quarter worth about $387,435,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of PayPal by 174.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after buying an additional 2,689,162 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

PYPL has been the topic of several analyst reports. BMO Capital Markets upped their price objective on PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Macquarie lifted their target price on shares of PayPal from $95.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Canaccord Genuity Group raised their price target on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citigroup raised their target price on PayPal from $94.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Fourteen investment 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, PayPal has an average rating of “Moderate Buy” and a consensus target price of $89.48.

PayPal Price Performance

PYPL opened at $89.51 on Tuesday. PayPal Holdings, Inc. has a 1 year low of $55.77 and a 1 year high of $93.66. The firm has a market capitalization of $89.74 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The business’s 50-day moving average is $88.16 and its two-hundred day moving average is $79.05.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a net margin of 14.08% and a return on equity of 23.44%. Research analysts anticipate that PayPal Holdings, Inc. will post 4.58 earnings per share 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.