Allspring Global Investments Holdings LLC Sells 6,656 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Allspring Global Investments Holdings LLC reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 112,385 shares of the credit services provider’s stock after selling 6,656 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PayPal were worth $9,685,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Park Place Capital Corp grew its stake in PayPal by 6.6% during the fourth quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider’s stock worth $161,000 after purchasing an additional 116 shares during the period. Rosenberg Matthew Hamilton boosted its holdings in PayPal by 67.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 125 shares in the last quarter. Wynn Capital LLC boosted its holdings in PayPal by 1.1% in the fourth quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider’s stock worth $983,000 after acquiring an additional 130 shares in the last quarter. Brave Asset Management Inc. boosted its holdings in PayPal by 5.2% in the fourth quarter. Brave Asset Management Inc. now owns 2,828 shares of the credit services provider’s stock worth $241,000 after acquiring an additional 141 shares in the last quarter. Finally, Midwest Financial Group LLC boosted its holdings in PayPal by 5.0% in the fourth quarter. Midwest Financial Group LLC now owns 3,139 shares of the credit services provider’s stock worth $268,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price target on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Citigroup lifted their price target on PayPal from $97.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Wells Fargo & Company raised their target price on PayPal from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Phillip Securities reissued an “accumulate” rating and issued a $90.00 target price (up from $80.00) on shares of PayPal in a research report on Friday, November 1st. Finally, UBS Group lifted their price target on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Thirteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus price target of $90.52.

PayPal Price Performance

NASDAQ:PYPL opened at $78.62 on Wednesday. The company has a market capitalization of $77.77 billion, a P/E ratio of 19.61, a P/E/G 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. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66. The business’s 50-day moving average is $86.18 and its 200 day moving average is $80.45.

PayPal (NASDAQ:PYPL) last posted its quarterly 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 13.04% and a return on equity of 23.67%. The firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the firm posted $1.48 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. On average, equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 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.