Cortland Associates Inc. MO Has $19.86 Million Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Cortland Associates Inc. MO reduced its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 43.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 254,505 shares of the credit services provider’s stock after selling 197,414 shares during the period. PayPal accounts for about 2.4% of Cortland Associates Inc. MO’s portfolio, making the stock its 16th largest holding. Cortland Associates Inc. MO’s holdings in PayPal were worth $19,859,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC lifted its position in shares of 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 buying an additional 124 shares during the last quarter. First United Bank & Trust grew its position 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 increased its stake 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 worth $369,000 after purchasing an additional 152 shares during the period. SYSTM Wealth Solutions LLC boosted its stake in PayPal by 50.6% in the 2nd 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. Finally, First Bank & Trust grew its holdings in PayPal by 4.4% in the 3rd quarter. First Bank & Trust now owns 4,016 shares of the credit services provider’s stock valued at $313,000 after buying an additional 171 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PYPL has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Daiwa America upgraded PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Phillip Securities restated an “accumulate” rating and issued a $90.00 price target (up previously from $80.00) on shares of PayPal in a research report on Friday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 price objective on shares of PayPal in a research report on Wednesday, September 18th. Finally, StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research report on Sunday. Fifteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.45.

PayPal Price Performance

Shares of PYPL opened at $77.25 on Monday. The business has a 50-day moving average of $76.50 and a 200-day moving average of $67.72. PayPal Holdings, Inc. has a 1 year low of $52.55 and a 1 year high of $83.70. The company has a market capitalization of $77.45 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.41 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.24.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the previous year, the company earned $0.97 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities research analysts anticipate that PayPal Holdings, Inc. will post 4.56 earnings per share 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.