McGuire Investment Group LLC Sells 4,323 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

McGuire Investment Group LLC lessened its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 37.7% during the fourth quarter, HoldingsChannel reports. The firm owned 7,154 shares of the credit services provider’s stock after selling 4,323 shares during the period. McGuire Investment Group LLC’s holdings in PayPal were worth $611,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. raised its holdings in PayPal by 6.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 681,068 shares of the credit services provider’s stock valued at $58,129,000 after acquiring an additional 41,980 shares during the period. Midwest Financial Group LLC raised its holdings in PayPal by 5.0% during the 4th quarter. Midwest Financial Group LLC now owns 3,139 shares of the credit services provider’s stock valued at $268,000 after acquiring an additional 150 shares during the period. CX Institutional raised its holdings in PayPal by 8.2% during the 4th quarter. CX Institutional now owns 7,987 shares of the credit services provider’s stock valued at $682,000 after acquiring an additional 602 shares during the period. Encompass More Asset Management bought a new stake in PayPal during the 4th quarter valued at $257,000. Finally, Impact Partnership Wealth LLC raised its holdings in PayPal by 7.8% during the 4th quarter. Impact Partnership Wealth LLC now owns 10,711 shares of the credit services provider’s stock valued at $914,000 after acquiring an additional 777 shares during the period. Institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PYPL. Keefe, Bruyette & Woods boosted their target price on shares of PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group boosted their target price on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. UBS Group upped their price target on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Monness Crespi & Hardt upped their price target on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company upped their price target on shares of PayPal from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Fourteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PayPal has a consensus rating of “Moderate Buy” and an average price target of $89.48.

PayPal Stock Performance

PayPal stock opened at $89.11 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average of $87.70 and a 200-day moving average of $77.58. The firm has a market cap of $89.34 billion, a P/E ratio of 21.27, a P/E/G ratio of 1.54 and a beta of 1.44. PayPal Holdings, Inc. has a 1-year low of $55.77 and a 1-year high of $93.66.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 earnings per share. Sell-side analysts expect that PayPal Holdings, Inc. will post 4.58 EPS for the current year.

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.