Audent Global Asset Management LLC reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) by 21.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,247 shares of the credit services provider’s stock after selling 879 shares during the quarter. Audent Global Asset Management LLC’s holdings in PayPal were worth $231,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of PYPL. Renaissance Technologies LLC purchased a new position in shares of PayPal in the 4th quarter valued at approximately $319,712,000. Lone Pine Capital LLC raised its position in shares of PayPal by 93.4% in the 3rd quarter. Lone Pine Capital LLC now owns 8,294,340 shares of the credit services provider’s stock valued at $713,894,000 after purchasing an additional 4,005,315 shares during the last quarter. Coatue Management LLC raised its position in shares of PayPal by 284.3% in the 3rd quarter. Coatue Management LLC now owns 4,691,346 shares of the credit services provider’s stock valued at $403,784,000 after purchasing an additional 3,470,726 shares during the last quarter. Clearbridge Investments LLC raised its position in PayPal by 122.0% during the 1st quarter. Clearbridge Investments LLC now owns 6,230,481 shares of the credit services provider’s stock worth $720,555,000 after buying an additional 3,424,122 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in PayPal by 171.1% during the 4th quarter. Two Sigma Advisers LP now owns 4,941,100 shares of the credit services provider’s stock worth $351,905,000 after buying an additional 3,118,400 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.
PayPal Trading Down 0.3 %
Shares of PYPL opened at $63.56 on Wednesday. PayPal Holdings, Inc. has a 52-week low of $58.95 and a 52-week high of $103.03. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average is $68.23 and its two-hundred day moving average is $73.03. The stock has a market cap of $70.91 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 1.00 and a beta of 1.31.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on PYPL. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PayPal from $100.00 to $80.00 in a research report on Friday, June 9th. Credit Suisse Group lowered shares of PayPal from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $100.00 to $85.00 in a research report on Tuesday, May 9th. Edward Jones lowered shares of PayPal from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. JMP Securities reduced their price target on shares of PayPal from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Tuesday, May 9th. Finally, Sanford C. Bernstein reduced their price target on shares of PayPal from $85.00 to $70.00 in a research report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.12.
PayPal Profile
PayPal Holdings, Inc engages in the development of technology platforms for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. It manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.
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