Strategic Wealth Partners Ltd. Has $2.54 Million Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Strategic Wealth Partners Ltd. cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 32,588 shares of the credit services provider’s stock after selling 935 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in PayPal were worth $2,543,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Brown Financial Advisors bought a new stake in PayPal in the 2nd quarter valued at $1,454,000. Cape Cod Five Cents Savings Bank acquired a new stake in shares of PayPal during the second quarter worth $3,014,000. Distillate Capital Partners LLC boosted its position in shares of PayPal by 156,934.7% in the second quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock valued at $19,957,000 after acquiring an additional 343,687 shares during the period. Fiduciary Alliance LLC increased its position in PayPal by 604.7% during the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock worth $3,452,000 after acquiring an additional 45,544 shares during the period. Finally, 1832 Asset Management L.P. raised its stake in PayPal by 44.6% in the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after purchasing an additional 381 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Macquarie raised their target price on shares of PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Robert W. Baird lifted their price objective on PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. William Blair raised PayPal to a “hold” rating in a report on Tuesday, July 30th. Barclays raised their price target on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Jefferies Financial Group cut their price objective on shares of PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Seventeen investment 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. Based on data from MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.41.

PayPal Trading Up 1.1 %

NASDAQ:PYPL opened at $81.16 on Wednesday. The firm has a fifty day simple moving average of $71.11 and a two-hundred day simple moving average of $65.71. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $81.40. The stock has a market capitalization of $84.90 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.41 and a beta of 1.44. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $0.99 by $0.20. The company had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the business posted $0.83 EPS. Analysts expect that PayPal Holdings, Inc. will post 4.42 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.