Burney Co. Sells 120 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Burney Co. decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,383 shares of the credit services provider’s stock after selling 120 shares during the period. Burney Co.’s holdings in PayPal were worth $2,337,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PYPL. FMR LLC grew its position 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 lifted its stake in PayPal by 12,919.4% during the third 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 boosted its holdings in shares of 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 worth $501,184,000 after purchasing an additional 276,287 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after purchasing an additional 1,866,925 shares during the last quarter. Finally, Primecap Management Co. CA raised its holdings in shares of 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 buying an additional 1,069,356 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Up 2.8 %

NASDAQ:PYPL opened at $89.64 on Thursday. 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’s 50-day moving average price is $86.91 and its 200-day moving average price is $76.31. The company has a market capitalization of $89.87 billion, a PE ratio of 21.39, a P/E/G ratio of 1.42 and a beta of 1.44. PayPal Holdings, Inc. has a 1-year low of $55.77 and a 1-year high of $93.66.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share 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 business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on PYPL shares. 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. Canaccord Genuity Group increased their target price on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Susquehanna lifted their price objective on PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a report on Monday, January 6th. Finally, Morgan Stanley boosted their target price on PayPal from $76.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Fourteen research 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.16.

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.