Private Trust Co. NA Sells 3,930 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Private Trust Co. NA lowered its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 29.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,266 shares of the credit services provider’s stock after selling 3,930 shares during the period. Private Trust Co. NA’s holdings in PayPal were worth $723,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Family Firm Inc. bought a new stake in shares of PayPal in the second quarter valued at about $29,000. SYSTM Wealth Solutions LLC boosted its holdings in PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares during the period. Tortoise Investment Management LLC grew its position in shares of PayPal by 930.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 465 shares in the last quarter. Planning Capital Management Corp increased its holdings in shares of PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 268 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of PayPal in the first quarter valued at approximately $34,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on PYPL. William Blair upgraded PayPal to a “hold” rating in a research note on Tuesday, July 30th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Piper Sandler reaffirmed a “neutral” rating and set a $88.00 price objective on shares of PayPal in a research report on Friday, November 22nd. The Goldman Sachs Group raised their target price on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, TD Cowen upped their price target on shares of PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Sixteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PayPal has an average rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Stock Performance

Shares of PayPal stock opened at $86.94 on Wednesday. The company has a market cap of $87.16 billion, a P/E ratio of 20.75, a PEG ratio of 1.56 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $81.04 and a two-hundred day moving average price of $70.06. PayPal Holdings, Inc. has a 1-year low of $55.71 and a 1-year high of $88.74.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 earnings per share. As a group, analysts anticipate that PayPal Holdings, Inc. will post 4.57 EPS for the current 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.