PayPal Holdings, Inc. (NASDAQ:PYPL) Position Cut by Asset Dedication LLC

Asset Dedication LLC lowered its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,016 shares of the credit services provider’s stock after selling 303 shares during the period. Asset Dedication LLC’s holdings in PayPal were worth $157,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Foster Victor Wealth Advisors LLC bought a new position in PayPal in the 3rd quarter valued at about $6,517,000. First United Bank & Trust lifted its stake in shares of PayPal by 6.4% in the 3rd quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after acquiring an additional 145 shares during the period. Regatta Capital Group LLC bought a new position in shares of PayPal in the third quarter valued at approximately $304,000. Prospect Financial Services LLC increased its stake in shares of PayPal by 4.0% during the third quarter. Prospect Financial Services LLC now owns 70,813 shares of the credit services provider’s stock valued at $5,526,000 after acquiring an additional 2,719 shares during the period. Finally, Swedbank AB raised its holdings in PayPal by 9.8% during the third quarter. Swedbank AB now owns 695,283 shares of the credit services provider’s stock worth $54,253,000 after purchasing an additional 62,060 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PYPL shares. JPMorgan Chase & Co. lifted their price target on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Monness Crespi & Hardt boosted their price target on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Sanford C. Bernstein lowered shares of PayPal from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $75.00 to $80.00 in a research report on Thursday, October 10th. Macquarie boosted 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. Finally, Wells Fargo & Company lifted their price target on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday. Seventeen equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and an average price target of $77.52.

PayPal Stock Performance

Shares of PYPL stock opened at $79.82 on Friday. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $82.00. The stock’s 50-day moving average is $73.83 and its two-hundred day moving average is $66.50. 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 cap of $83.50 billion, a P/E ratio of 20.11, a PEG ratio of 1.49 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion for 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 was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 earnings per share. Analysts predict that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

PayPal 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.