Beese Fulmer Investment Management Inc. Sells 320 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Beese Fulmer Investment Management Inc. cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.8% during the third quarter, HoldingsChannel reports. The firm owned 5,189 shares of the credit services provider’s stock after selling 320 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in PayPal were worth $405,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PYPL. Primecap Management Co. CA raised its holdings in PayPal by 180.7% during the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after buying an additional 3,184,160 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after acquiring an additional 1,866,925 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of PayPal by 9,864.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock worth $87,336,000 after purchasing an additional 1,108,030 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in PayPal by 31.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock valued at $194,262,000 after purchasing an additional 687,940 shares during the last quarter. Finally, Swedbank AB purchased a new stake in PayPal in the 1st quarter worth about $42,297,000. 68.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PYPL. Jefferies Financial Group cut their target price on PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. TD Cowen increased their target price on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their price target on shares of PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, William Blair upgraded shares of PayPal to a “hold” rating in a report on Tuesday, July 30th. Sixteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.03.

PayPal Price Performance

Shares of PYPL opened at $81.39 on Friday. The company has a 50 day moving average of $75.11 and a two-hundred day moving average of $66.95. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $82.48. The company has a market cap of $85.14 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 1.50 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter last year, the firm earned $0.83 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, analysts predict that PayPal Holdings, Inc. will post 4.44 earnings per share for the current fiscal year.

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.