PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 126,037 shares of the credit services provider’s stock after selling 2,133 shares during the period. Pacer Advisors Inc.’s holdings in PayPal were worth $9,835,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PYPL. Bruce G. Allen Investments LLC boosted its holdings in PayPal by 7.4% in the third quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock valued at $141,000 after purchasing an additional 124 shares during the period. First United Bank & Trust raised its holdings in PayPal by 6.4% in the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock valued at $187,000 after acquiring an additional 145 shares in the last quarter. Ritholtz Wealth Management lifted its stake in PayPal by 3.3% in the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock worth $369,000 after acquiring an additional 152 shares during the last quarter. SYSTM Wealth Solutions LLC grew its holdings in PayPal by 50.6% during 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 in the last quarter. Finally, First Bank & Trust increased its position in shares of PayPal by 4.4% in the 3rd quarter. First Bank & Trust now owns 4,016 shares of the credit services provider’s stock valued at $313,000 after purchasing an additional 171 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PYPL shares. Monness Crespi & Hardt boosted their target price on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. upped their price objective on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. The Goldman Sachs Group upped their price target on PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Barclays raised their price objective on shares of PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Sixteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.60.

PayPal Stock Performance

Shares of PYPL opened at $86.77 on Friday. The stock has a market capitalization of $86.99 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.51 and a beta of 1.43. 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 1 year low of $55.55 and a 1 year high of $87.92. The company’s fifty day moving average is $80.41 and its two-hundred day moving average is $69.68.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (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 firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the prior year, the company posted $0.97 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 4.57 earnings per share for the current 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.