Douglas Lane & Associates LLC Lowers Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Douglas Lane & Associates LLC cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 1.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 781,978 shares of the credit services provider's stock after selling 13,921 shares during the period. Douglas Lane & Associates LLC owned approximately 0.08% of PayPal worth $51,024,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of PayPal by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider's stock valued at $1,849,884,000 after purchasing an additional 271,836 shares during the last quarter. FMR LLC increased its stake in shares of PayPal by 12.9% in the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock valued at $1,615,134,000 after purchasing an additional 2,161,582 shares during the last quarter. Capital Research Global Investors increased its stake in shares of PayPal by 108.2% in the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock valued at $1,529,823,000 after purchasing an additional 9,313,783 shares during the last quarter. Norges Bank bought a new stake in PayPal during the 4th quarter worth $1,086,508,000. Finally, Northern Trust Corp grew its position in PayPal by 19.0% during the 4th quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider's stock worth $892,953,000 after acquiring an additional 1,669,908 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PYPL shares. Macquarie reduced their price objective on PayPal from $117.00 to $95.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Truist Financial started coverage on PayPal in a research report on Monday. They set a "sell" rating and a $68.00 price objective on the stock. Citigroup reduced their price objective on PayPal from $98.00 to $95.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. UBS Group reduced their price objective on PayPal from $88.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Finally, Robert W. Baird boosted their price objective on PayPal from $78.00 to $79.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $83.29.

PayPal Stock Up 0.9%

PYPL stock traded up $0.65 during trading on Monday, reaching $70.93. 7,493,980 shares of the stock were exchanged, compared to its average volume of 11,182,874. The firm's 50 day moving average is $66.32 and its 200 day moving average is $76.57. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm has a market cap of $68.98 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.17. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. During the same period in the prior year, the business earned $1.08 EPS. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current 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.