Mizuho Securities USA LLC Reduces Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Mizuho Securities USA LLC reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 17.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,293 shares of the credit services provider’s stock after selling 14,356 shares during the period. Mizuho Securities USA LLC’s holdings in PayPal were worth $5,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Primecap Management Co. CA boosted its stake in PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after purchasing an additional 3,184,160 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after buying an additional 1,866,925 shares during the period. International Assets Investment Management LLC increased its position in shares of PayPal by 9,864.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock valued at $87,336,000 after acquiring an additional 1,108,030 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of PayPal by 139.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,544,179 shares of the credit services provider’s stock valued at $120,492,000 after acquiring an additional 899,476 shares during the period. Finally, Swedbank AB acquired a new stake in PayPal during the 1st quarter worth about $42,297,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PYPL shares. Canaccord Genuity Group increased their price objective on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Susquehanna upped their price target on shares of PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Phillip Securities reaffirmed 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. Argus raised PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.45.

PayPal Price Performance

PYPL stock opened at $85.04 on Friday. PayPal Holdings, Inc. has a 1 year low of $55.55 and a 1 year high of $87.92. 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 firm has a market capitalization of $85.26 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.50 and a beta of 1.43. The business has a 50 day simple moving average of $80.07 and a 200-day simple moving average of $69.51.

PayPal (NASDAQ:PYPL) last issued its 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 business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the company earned $0.97 EPS. Equities research analysts anticipate that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

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.