PayPal Holdings, Inc. (NASDAQ:PYPL) Holdings Cut by Pitcairn Co.

Pitcairn Co. lowered its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,331 shares of the credit services provider’s stock after selling 2,757 shares during the period. Pitcairn Co.’s holdings in PayPal were worth $1,430,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Family Firm Inc. acquired a new stake in shares of PayPal in the second quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC increased its stake in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares during the period. Tortoise Investment Management LLC increased its stake in shares of PayPal by 930.0% in the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 465 shares during the period. Planning Capital Management Corp increased its stake in shares of PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 268 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of PayPal in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PYPL. Deutsche Bank Aktiengesellschaft raised their price target on shares of PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Stephens raised their price objective on shares of PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Robert W. Baird raised their price objective on shares of PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. William Blair upgraded shares of PayPal to a “hold” rating in a research note on Tuesday, July 30th. Finally, Sanford C. Bernstein lowered shares of PayPal from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $75.00 to $80.00 in a research note on Thursday, October 10th. Sixteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PayPal has a consensus rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Trading Up 2.3 %

Shares of NASDAQ:PYPL opened at $86.77 on Friday. The firm has a fifty day moving average of $80.41 and a two-hundred day moving average of $69.68. The firm has a market capitalization of $86.99 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43. PayPal Holdings, Inc. has a 12-month low of $55.55 and a 12-month high of $87.92. 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, beating 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%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. On average, equities analysts expect that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

PayPal Company 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.