Coastwise Capital Group LLC Trims Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Coastwise Capital Group LLC reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,410 shares of the credit services provider’s stock after selling 232 shares during the quarter. Coastwise Capital Group LLC’s holdings in PayPal were worth $266,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PYPL. Bruce G. Allen Investments LLC lifted its position 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 valued at $141,000 after purchasing an additional 124 shares during the period. 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 in the last quarter. Ritholtz Wealth Management lifted its holdings in shares of PayPal by 3.3% in the 3rd quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock valued at $369,000 after buying an additional 152 shares during the period. SYSTM Wealth Solutions LLC boosted 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 buying an additional 167 shares in the last quarter. Finally, First Bank & Trust grew its holdings in PayPal by 4.4% during the third quarter. First Bank & Trust now owns 4,016 shares of the credit services provider’s stock worth $313,000 after acquiring an additional 171 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group boosted their target price on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets increased their target price on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Stephens upped their price target on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and raised their price target for the company from $68.00 to $72.00 in a research report on Friday, August 9th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $88.00 price objective on shares of PayPal in a research report on Friday, November 22nd. Sixteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Stock Up 0.2 %

Shares of NASDAQ PYPL opened at $86.77 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $86.99 billion, a PE ratio of 20.71, a P/E/G ratio of 1.54 and a beta of 1.43. The firm has a fifty day moving average of $81.69 and a 200-day moving average of $70.53. PayPal Holdings, Inc. has a 52-week low of $55.77 and a 52-week high of $88.74.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS 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 business had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter last year, the firm posted $0.97 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts anticipate that PayPal Holdings, Inc. will post 4.57 EPS for the current 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.