PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Pitcairn Co.

Pitcairn Co. reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,331 shares of the credit services provider’s stock after selling 2,757 shares during the period. Pitcairn Co.’s holdings in PayPal were worth $1,430,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PYPL. Family Firm Inc. acquired a new position in shares of PayPal during the 2nd quarter worth approximately $29,000. SYSTM Wealth Solutions LLC grew 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 worth $29,000 after acquiring an additional 167 shares during the period. Tortoise Investment Management LLC grew its stake in PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 465 shares during the period. Planning Capital Management Corp grew its stake in PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 268 shares during the period. Finally, LRI Investments LLC purchased a new stake in PayPal in the 1st quarter worth approximately $34,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Performance

Shares of PYPL stock opened at $86.77 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. PayPal Holdings, Inc. has a one year low of $55.55 and a one year high of $87.92. The company’s 50-day simple moving average is $80.41 and its 200-day simple moving average is $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 issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter last year, the company posted $0.97 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $78.00 target price on shares of PayPal in a research note on Wednesday, September 18th. Piper Sandler reaffirmed a “neutral” rating and issued a $88.00 target price on shares of PayPal in a research note on Friday. Sanford C. Bernstein cut shares of PayPal from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. Stephens lifted their target price on shares of PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, William Blair upgraded PayPal to a “hold” rating in a report on Tuesday, July 30th. Sixteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.60.

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.