Allspring Global Investments Holdings LLC Has $20.16 Million Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Allspring Global Investments Holdings LLC trimmed its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 38.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 302,123 shares of the credit services provider’s stock after selling 185,465 shares during the period. Allspring Global Investments Holdings LLC’s holdings in PayPal were worth $20,161,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of PayPal by 90,307.2% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 254,544,959 shares of the credit services provider’s stock worth $16,985,785,000 after acquiring an additional 254,263,405 shares in the last quarter. BlackRock Inc. increased its position in shares of PayPal by 1.3% during the first quarter. BlackRock Inc. now owns 77,214,661 shares of the credit services provider’s stock worth $5,863,681,000 after acquiring an additional 962,329 shares in the last quarter. State Street Corp increased its position in shares of PayPal by 2.7% during the first quarter. State Street Corp now owns 45,423,344 shares of the credit services provider’s stock worth $3,449,434,000 after acquiring an additional 1,202,956 shares in the last quarter. Geode Capital Management LLC grew its position in PayPal by 1.1% in the first quarter. Geode Capital Management LLC now owns 20,947,345 shares of the credit services provider’s stock valued at $1,586,966,000 after purchasing an additional 235,651 shares in the last quarter. Finally, Morgan Stanley grew its position in PayPal by 12.0% in the fourth quarter. Morgan Stanley now owns 18,560,073 shares of the credit services provider’s stock valued at $1,321,849,000 after purchasing an additional 1,995,271 shares in the last quarter. 68.42% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Down 2.6 %

Shares of NASDAQ:PYPL opened at $50.39 on Monday. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $92.62. The stock has a market cap of $55.33 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 0.76 and a beta of 1.34. The business’s 50 day moving average is $59.12 and its 200 day moving average is $64.66. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.54.

PayPal (NASDAQ:PYPL) last posted its earnings results on Wednesday, August 2nd. The credit services provider reported $1.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.16. The company had revenue of $7.29 billion during the quarter, compared to analyst estimates of $7.27 billion. PayPal had a return on equity of 20.31% and a net margin of 14.27%. PayPal’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. Sell-side analysts predict that PayPal Holdings, Inc. will post 3.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Credit Suisse Group reiterated a “neutral” rating and issued a $80.00 price objective on shares of PayPal in a research note on Monday, July 24th. StockNews.com initiated coverage on shares of PayPal in a research note on Thursday, October 5th. They set a “hold” rating for the company. BTIG Research boosted their price target on shares of PayPal from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. JPMorgan Chase & Co. upped their target price on shares of PayPal from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 22nd. Finally, Piper Sandler dropped their price objective on shares of PayPal from $77.00 to $67.00 and set a “neutral” rating on the stock in a report on Friday, September 29th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and a consensus target price of $86.79.

About PayPal

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.