United Services Automobile Association Decreases Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

United Services Automobile Association decreased its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 20.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,783 shares of the credit services provider's stock after selling 6,493 shares during the quarter. United Services Automobile Association's holdings in PayPal were worth $1,934,000 at the end of the most recent quarter.

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A number of other hedge funds have also recently modified their holdings of the company. Kovitz Investment Group Partners LLC increased its position in shares of PayPal by 5.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 315,053 shares of the credit services provider's stock valued at $23,570,000 after acquiring an additional 17,226 shares during the period. Wellington Management Group LLP increased its position in shares of PayPal by 4.3% during the third quarter. Wellington Management Group LLP now owns 2,570,789 shares of the credit services provider's stock valued at $200,599,000 after buying an additional 106,435 shares during the period. Weiss Asset Management LP purchased a new position in shares of PayPal during the third quarter valued at about $14,867,000. Tabor Asset Management LP increased its position in shares of PayPal by 185.2% during the third quarter. Tabor Asset Management LP now owns 120,367 shares of the credit services provider's stock valued at $9,392,000 after buying an additional 78,169 shares during the period. Finally, Taika Capital LP increased its position in shares of PayPal by 15.3% during the third quarter. Taika Capital LP now owns 59,699 shares of the credit services provider's stock valued at $4,658,000 after buying an additional 7,929 shares during the period. Hedge funds and other institutional investors own 68.32% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. UBS Group boosted their price target on shares of PayPal from $72.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Stephens boosted their price target on shares of PayPal from $75.00 to $85.00 and gave the company an "equal weight" rating in a research report on Friday, October 18th. Wells Fargo & Company boosted their price target on shares of PayPal from $70.00 to $75.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. StockNews.com lowered shares of PayPal from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Canaccord Genuity Group boosted their price objective on shares of PayPal from $80.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Sixteen investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $84.21.

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Get Our Latest Research Report on PayPal

PayPal Stock Up 0.9 %

Shares of PayPal stock opened at $89.88 on Friday. The company has a market cap of $90.11 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 1.63 and a beta of 1.44. The company's 50 day moving average is $82.67 and its 200 day moving average is $71.32. PayPal Holdings, Inc. has a twelve month low of $55.77 and a twelve month high of $90.27. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

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PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts anticipate that PayPal Holdings, Inc. will post 4.57 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.

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