PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Capital Investment Counsel Inc

Capital Investment Counsel Inc reduced its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,674 shares of the credit services provider’s stock after selling 330 shares during the period. Capital Investment Counsel Inc’s holdings in PayPal were worth $2,706,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PYPL. Lake Street Private Wealth LLC grew its position in shares of PayPal by 2.4% in the third quarter. Lake Street Private Wealth LLC now owns 31,831 shares of the credit services provider’s stock valued at $2,484,000 after purchasing an additional 744 shares during the period. Greenleaf Trust grew its holdings in PayPal by 0.4% in the 3rd quarter. Greenleaf Trust now owns 197,743 shares of the credit services provider’s stock valued at $15,430,000 after buying an additional 750 shares during the period. Meadow Creek Wealth Advisors LLC purchased a new stake in PayPal in the 3rd quarter valued at about $246,000. Bank Pictet & Cie Europe AG increased its stake in shares of PayPal by 15.1% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 4,587 shares of the credit services provider’s stock valued at $358,000 after acquiring an additional 602 shares during the last quarter. Finally, Lecap Asset Management Ltd. lifted its holdings in shares of PayPal by 236.1% during the 3rd quarter. Lecap Asset Management Ltd. now owns 19,416 shares of the credit services provider’s stock worth $1,515,000 after acquiring an additional 13,640 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on PYPL. Oppenheimer started coverage on shares of PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. William Blair raised PayPal to a “hold” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price target on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group lifted their price objective on PayPal from $69.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Sixteen equities research 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $78.03.

PayPal Stock Performance

PYPL stock opened at $80.83 on Thursday. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $82.24. The stock has a market capitalization of $82.63 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.47 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s fifty day moving average is $75.11 and its two-hundred day moving average is $66.95.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same period last year, the firm posted $0.83 EPS. PayPal’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, research analysts predict that PayPal Holdings, Inc. will post 4.44 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.