Allspring Global Investments Holdings LLC Cuts Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Allspring Global Investments Holdings LLC cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,385 shares of the credit services provider’s stock after selling 6,656 shares during the period. Allspring Global Investments Holdings LLC’s holdings in PayPal were worth $9,685,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Gordian Capital Singapore Pte Ltd purchased a new stake in PayPal during the third quarter worth about $26,000. Rosenberg Matthew Hamilton increased its stake in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares during the period. Sugarloaf Wealth Management LLC increased its stake in PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares during the period. Planning Capital Management Corp increased its stake in PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 268 shares during the period. Finally, Financial Management Professionals Inc. increased its stake in PayPal by 125.3% during the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after purchasing an additional 243 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Price Performance

Shares of PYPL opened at $78.62 on Wednesday. PayPal Holdings, Inc. has a 52 week low of $56.97 and a 52 week high of $93.66. The firm has a market cap of $77.77 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 1.29 and a beta of 1.44. The company has a current ratio of 1.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $86.18 and a 200-day moving average of $80.45.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price objective on shares of PayPal in a research report on Thursday, December 12th. Barclays boosted their price objective on PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. boosted their price objective on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on PayPal from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Finally, UBS Group boosted their price objective on PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Thirteen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.52.

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.