PayPal Holdings, Inc. (NASDAQ:PYPL) Stock Position Reduced by Park Place Capital Corp

Park Place Capital Corp trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 16.3% in the third quarter, Holdings Channel.com reports. The fund owned 1,770 shares of the credit services provider’s stock after selling 344 shares during the period. Park Place Capital Corp’s holdings in PayPal were worth $138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PYPL. State of Tennessee Treasury Department boosted its position in PayPal by 22.9% during the 4th quarter. State of Tennessee Treasury Department now owns 260,099 shares of the credit services provider’s stock valued at $15,973,000 after purchasing an additional 48,411 shares during the period. Putnam Investments LLC boosted its holdings in shares of PayPal by 19.8% during the fourth quarter. Putnam Investments LLC now owns 630,289 shares of the credit services provider’s stock valued at $38,706,000 after acquiring an additional 104,328 shares during the period. Caxton Associates LP grew its position in shares of PayPal by 1,514.6% during the fourth quarter. Caxton Associates LP now owns 319,807 shares of the credit services provider’s stock worth $19,639,000 after acquiring an additional 300,000 shares during the last quarter. First Financial Bankshares Inc acquired a new stake in shares of PayPal in the 4th quarter worth about $4,763,000. Finally, Garner Asset Management Corp bought a new stake in PayPal in the 4th quarter valued at about $87,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PYPL has been the subject of a number of recent analyst reports. BMO Capital Markets increased their price objective on PayPal from $72.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Oppenheimer began coverage on shares of PayPal in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. The Goldman Sachs Group restated a “neutral” rating and set a $69.00 price target on shares of PayPal in a research report on Thursday, September 19th. Finally, Barclays raised their target price on PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Seventeen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $76.41.

PayPal Trading Up 1.1 %

Shares of NASDAQ PYPL opened at $81.16 on Wednesday. The company’s 50 day simple moving average is $71.11 and its 200 day simple moving average is $65.71. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $84.90 billion, a P/E ratio of 20.44, a P/E/G ratio of 1.41 and a beta of 1.44. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $81.40.

PayPal (NASDAQ:PYPL) last released its earnings results 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. The firm had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 earnings per share. On average, analysts predict that PayPal Holdings, Inc. will post 4.42 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.