Renaissance Investment Group LLC Reduces Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Renaissance Investment Group LLC lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 31.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,720 shares of the credit services provider’s stock after selling 1,707 shares during the quarter. Renaissance Investment Group LLC’s holdings in PayPal were worth $318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PYPL. Rosenberg Matthew Hamilton increased its stake in PayPal by 67.6% during the 4th 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 in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in shares of PayPal in the 3rd quarter valued at $26,000. Sugarloaf Wealth Management LLC raised its stake in PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 272 shares during the last quarter. Planning Capital Management Corp lifted its position in PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 268 shares during the period. Finally, Financial Management Professionals Inc. grew its stake in PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 243 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Price Performance

NASDAQ:PYPL opened at $91.81 on Friday. PayPal Holdings, Inc. has a one year low of $55.77 and a one year high of $93.66. The stock has a market cap of $92.04 billion, a PE ratio of 21.91, a P/E/G ratio of 1.42 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a 50 day moving average price of $87.40 and a 200 day moving average price of $76.72.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PYPL. Deutsche Bank Aktiengesellschaft upped their target price on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Oppenheimer started coverage on shares of PayPal in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Macquarie raised their target price on shares of PayPal from $95.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Barclays upped their price target on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price objective on shares of PayPal in a research note on Thursday, December 12th. Fourteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.32.

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.