Allspring Global Investments Holdings LLC Has $9.69 Million Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Allspring Global Investments Holdings LLC cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.6% during the fourth quarter, Holdings Channel reports. The firm 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 quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Park Place Capital Corp increased its position 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 buying an additional 116 shares during the last quarter. Rosenberg Matthew Hamilton grew its position in shares of PayPal by 67.6% in the fourth 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 during the last quarter. Wynn Capital LLC grew its position in shares of PayPal by 1.1% in the fourth quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider’s stock valued at $983,000 after purchasing an additional 130 shares during the last quarter. Brave Asset Management Inc. grew its position in shares of PayPal by 5.2% in the fourth quarter. Brave Asset Management Inc. now owns 2,828 shares of the credit services provider’s stock valued at $241,000 after purchasing an additional 141 shares during the last quarter. Finally, Midwest Financial Group LLC grew its position in shares of PayPal by 5.0% in the fourth quarter. Midwest Financial Group LLC now owns 3,139 shares of the credit services provider’s stock valued at $268,000 after purchasing an additional 150 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $78.62 on Wednesday. The stock 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 debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.25. PayPal Holdings, Inc. has a 1 year low of $56.97 and a 1 year high of $93.66. The company’s 50-day moving average is $86.18 and its 200 day moving average is $80.45.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.48 earnings per share. On average, sell-side analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on PYPL shares. Wells Fargo & Company upped their target price on PayPal from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price target on shares of PayPal in a research note on Thursday, December 12th. Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and boosted their price target for the company from $86.00 to $103.00 in a research note on Monday, December 9th. Keefe, Bruyette & Woods boosted their price target on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Barclays boosted their price target on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Thirteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $90.52.

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.