Cohen Klingenstein LLC Cuts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Cohen Klingenstein LLC decreased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 21.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,709 shares of the credit services provider’s stock after selling 19,000 shares during the period. Cohen Klingenstein LLC’s holdings in PayPal were worth $5,864,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PYPL. Bruce G. Allen Investments LLC grew its holdings in PayPal by 7.4% in the third quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 124 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in 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 buying an additional 125 shares in the last quarter. Wynn Capital LLC grew its position in shares of PayPal by 1.1% during the 4th quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider’s stock valued at $983,000 after acquiring an additional 130 shares during the period. Brave Asset Management Inc. boosted its position in PayPal by 5.2% during the fourth quarter. Brave Asset Management Inc. now owns 2,828 shares of the credit services provider’s stock worth $241,000 after purchasing an additional 141 shares in the last quarter. Finally, First United Bank & Trust raised its stake in shares of PayPal by 6.4% during the 3rd quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after buying an additional 145 shares during the period. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Performance

PayPal stock opened at $91.81 on Friday. The firm’s fifty day moving average price is $87.23 and its 200 day moving average price is $76.49. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $92.04 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 1.42 and a beta of 1.44. PayPal Holdings, Inc. has a 12-month low of $55.77 and a 12-month high of $93.66.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. The Goldman Sachs Group increased their price objective on PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $86.00 to $103.00 in a research note on Monday, December 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Stephens lifted their target price on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, Piper Sandler restated a “neutral” rating and issued a $88.00 price target on shares of PayPal in a research note on Friday, November 22nd. Fourteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.32.

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.