Nuveen Asset Management LLC Reduces Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Nuveen Asset Management LLC reduced its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,345,319 shares of the credit services provider's stock after selling 125,008 shares during the quarter. Nuveen Asset Management LLC owned about 0.84% of PayPal worth $712,273,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Park Place Capital Corp boosted its stake in PayPal by 6.6% during the 4th quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider's stock valued at $161,000 after purchasing an additional 116 shares in the last quarter. Rosenberg Matthew Hamilton boosted its stake in PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock valued at $26,000 after purchasing an additional 125 shares in the last quarter. JFS Wealth Advisors LLC boosted its stake in PayPal by 33.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 502 shares of the credit services provider's stock valued at $43,000 after purchasing an additional 125 shares in the last quarter. Wynn Capital LLC lifted its position in shares of PayPal by 1.1% during the 4th quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider's stock valued at $983,000 after acquiring an additional 130 shares during the last quarter. Finally, Avalon Trust Co lifted its position in shares of PayPal by 7.0% during the 4th quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider's stock valued at $176,000 after acquiring an additional 135 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

PayPal Price Performance

NASDAQ:PYPL traded up $0.61 on Friday, hitting $72.18. The company had a trading volume of 8,703,318 shares, compared to its average volume of 11,251,938. The stock has a market capitalization of $70.20 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 1.27 and a beta of 1.51. 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 50 day moving average of $65.90 and a two-hundred day moving average of $77.45. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PYPL shares. Citigroup cut their price objective on PayPal from $98.00 to $95.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Keefe, Bruyette & Woods cut their price objective on PayPal from $104.00 to $85.00 and set an "outperform" rating for the company in a research report on Monday, March 31st. Monness Crespi & Hardt cut their price objective on PayPal from $120.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Canaccord Genuity Group reiterated a "buy" rating and set a $96.00 price objective on shares of PayPal in a research report on Wednesday, April 30th. Finally, Barclays cut their price objective on PayPal from $110.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, PayPal currently has an average rating of "Moderate Buy" and a consensus price target of $83.68.

Insider Buying and Selling

In other news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. The trade was a 7.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by insiders.

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.