MetLife Investment Management LLC Has $20.74 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

MetLife Investment Management LLC lessened its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 265,838 shares of the credit services provider’s stock after selling 13,179 shares during the period. MetLife Investment Management LLC’s holdings in PayPal were worth $20,743,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of PYPL. FMR LLC increased its position in shares of PayPal by 86.3% in the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after buying an additional 7,767,072 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in PayPal by 12,919.4% during the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after acquiring an additional 10,419,351 shares in the last quarter. Legal & General Group Plc grew its stake in PayPal by 3.3% in the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after acquiring an additional 276,287 shares during the period. Clearbridge Investments LLC increased its holdings in shares of PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after acquiring an additional 1,866,925 shares in the last quarter. Finally, Primecap Management Co. CA raised its position in shares of PayPal by 21.6% during the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after purchasing an additional 1,069,356 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Performance

PayPal stock opened at $86.57 on Thursday. The stock’s 50 day moving average is $81.31 and its 200 day moving average is $70.17. The company has a market capitalization of $86.79 billion, a P/E ratio of 20.66, a PEG ratio of 1.56 and a beta of 1.43. PayPal Holdings, Inc. has a twelve month low of $55.77 and a twelve month high of $88.74. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 earnings per share. On average, equities research analysts predict that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PYPL. Sanford C. Bernstein lowered PayPal from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $75.00 to $80.00 in a research report on Thursday, October 10th. Susquehanna lifted their price target on shares of PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Piper Sandler reissued a “neutral” rating and set a $88.00 price objective on shares of PayPal in a research report on Friday, November 22nd. Phillip Securities reaffirmed an “accumulate” rating and issued a $90.00 price objective (up from $80.00) on shares of PayPal in a research report on Friday, November 1st. Finally, UBS Group upped their target price on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Sixteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.60.

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.