Lazari Capital Management Inc. Sells 5,552 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Lazari Capital Management Inc. decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 20.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,823 shares of the credit services provider’s stock after selling 5,552 shares during the period. PayPal makes up about 0.7% of Lazari Capital Management Inc.’s portfolio, making the stock its 28th largest position. Lazari Capital Management Inc.’s holdings in PayPal were worth $1,703,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC raised its position in PayPal by 7.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock valued at $141,000 after buying an additional 124 shares during the last quarter. First United Bank & Trust raised its holdings in shares of PayPal by 6.4% in the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock valued at $187,000 after purchasing an additional 145 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of PayPal by 3.3% during the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock valued at $369,000 after purchasing an additional 152 shares in the last quarter. SYSTM Wealth Solutions LLC boosted its holdings in PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 167 shares during the last quarter. Finally, Pittenger & Anderson Inc. grew its position in PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Performance

Shares of PYPL opened at $80.91 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $74.81 and a 200-day moving average price of $66.86. The company has a market cap of $82.72 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.44. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $82.00.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. The business had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. PayPal’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 earnings per share. As a group, equities analysts forecast that PayPal Holdings, Inc. will post 4.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PYPL shares. Barclays upped their target price on PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, September 27th. TD Cowen increased their price target on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Stephens lifted their price objective on shares of PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 target price on shares of PayPal in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $84.00 price target on shares of PayPal in a report on Wednesday, July 31st. Sixteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.03.

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.