Audent Global Asset Management LLC Has $1.12 Million Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Audent Global Asset Management LLC decreased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 10.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,338 shares of the credit services provider’s stock after selling 1,750 shares during the period. PayPal accounts for approximately 1.9% of Audent Global Asset Management LLC’s portfolio, making the stock its 20th biggest position. Audent Global Asset Management LLC’s holdings in PayPal were worth $1,119,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PYPL. Bruce G. Allen Investments LLC increased its stake 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 worth $141,000 after purchasing an additional 124 shares during the period. First United Bank & Trust boosted its holdings in PayPal by 6.4% during 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 in the last quarter. Ritholtz Wealth Management boosted its holdings in 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 valued at $29,000 after purchasing an additional 167 shares in the last quarter. Finally, First Bank & Trust boosted 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 valued at $313,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. BMO Capital Markets lifted their price objective on PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 price objective on shares of PayPal in a report on Wednesday, September 18th. Phillip Securities reaffirmed an “accumulate” rating and set a $90.00 price objective (up from $80.00) on shares of PayPal in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Monness Crespi & Hardt boosted their target price on PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, October 28th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.60.

PayPal Price Performance

PYPL opened at $86.77 on Monday. The company has a fifty day simple moving average of $81.69 and a 200 day simple moving average of $70.53. The stock has a market cap of $86.99 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.54 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 12 month low of $55.77 and a 12 month high of $88.74.

PayPal (NASDAQ:PYPL) last released its 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. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 EPS. On average, research analysts expect 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.