Icon Wealth Advisors LLC Has $273,000 Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Icon Wealth Advisors LLC cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 42.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,500 shares of the credit services provider’s stock after selling 2,536 shares during the quarter. Icon Wealth Advisors LLC’s holdings in PayPal were worth $273,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PYPL. Family Firm Inc. acquired a new position in shares of PayPal during the second quarter worth approximately $29,000. SYSTM Wealth Solutions LLC lifted its holdings in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares in the last quarter. Tortoise Investment Management LLC boosted its position in PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after buying an additional 465 shares during the last quarter. Planning Capital Management Corp increased its stake in shares of PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after buying an additional 268 shares during the period. Finally, LRI Investments LLC bought a new stake in shares of PayPal during the first quarter worth $34,000. 68.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Macquarie lifted their price objective on PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $78.00 price target on shares of PayPal in a research report on Wednesday, September 18th. UBS Group increased their price objective on shares of PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Barclays lifted their target price on shares of PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, Oppenheimer assumed coverage on PayPal in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. Sixteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.60.

PayPal Stock Performance

Shares of PYPL opened at $86.77 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 12 month low of $55.55 and a 12 month high of $87.92. The firm has a fifty day simple moving average of $80.41 and a 200 day simple moving average of $69.68. The stock has a market capitalization of $86.99 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.51 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 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 company had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period in the prior year, the business posted $0.97 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts forecast 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.