Metropolitan Life Insurance Co NY Cuts Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Metropolitan Life Insurance Co NY reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,621 shares of the credit services provider’s stock after selling 1,983 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in PayPal were worth $3,244,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Mach 1 Financial Group LLC purchased a new stake in PayPal during the first quarter worth $22,024,000. VitalStone Financial LLC grew its stake in PayPal by 4,514.3% in the 1st quarter. VitalStone Financial LLC now owns 323 shares of the credit services provider’s stock valued at $75,000 after acquiring an additional 316 shares during the last quarter. Beacon Capital Management LLC increased its holdings in PayPal by 108.7% during the 2nd quarter. Beacon Capital Management LLC now owns 384 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new position in PayPal during the fourth quarter worth about $29,000. Finally, ZRC Wealth Management LLC acquired a new stake in shares of PayPal in the first quarter valued at approximately $32,000. 68.42% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Up 0.8 %

Shares of PayPal stock opened at $56.99 on Tuesday. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $88.63. The company has a market capitalization of $61.44 billion, a PE ratio of 16.96, a P/E/G ratio of 0.91 and a beta of 1.38. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.30 and a quick ratio of 1.30. The business has a 50-day moving average of $56.85 and a 200-day moving average of $62.48.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, November 1st. The credit services provider reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. PayPal had a return on equity of 20.78% and a net margin of 12.93%. The firm had revenue of $7.40 billion during the quarter, compared to analyst estimates of $7.39 billion. During the same quarter last year, the firm earned $0.87 EPS. PayPal’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities analysts forecast that PayPal Holdings, Inc. will post 3.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Monness Crespi & Hardt assumed coverage on PayPal in a research note on Monday, October 2nd. They issued a “buy” rating and a $100.00 target price on the stock. Royal Bank of Canada dropped their price objective on PayPal from $86.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, November 2nd. TD Cowen assumed coverage on shares of PayPal in a research note on Friday, October 6th. They set a “market perform” rating and a $66.00 price target on the stock. Mizuho cut their price objective on shares of PayPal from $92.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, November 14th. Finally, Oppenheimer decreased their target price on shares of PayPal from $77.00 to $72.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.77.

PayPal Company Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.