PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Solidarity Wealth LLC

Solidarity Wealth LLC lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,848 shares of the credit services provider’s stock after selling 195 shares during the period. Solidarity Wealth LLC’s holdings in PayPal were worth $300,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FCG Investment Co acquired a new position in shares of PayPal in the third quarter valued at approximately $1,079,000. Brown Financial Advisors purchased a new position in PayPal during the second quarter worth about $1,454,000. Cape Cod Five Cents Savings Bank acquired a new stake in PayPal in the 2nd quarter worth about $3,014,000. Distillate Capital Partners LLC grew its holdings in PayPal by 156,934.7% in the 2nd quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock valued at $19,957,000 after buying an additional 343,687 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in shares of PayPal by 44.6% during the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after acquiring an additional 381 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Trading Down 2.6 %

NASDAQ:PYPL opened at $78.22 on Thursday. PayPal Holdings, Inc. has a 52 week low of $50.80 and a 52 week high of $83.70. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The company has a market cap of $81.82 billion, a PE ratio of 19.70, a P/E/G ratio of 1.51 and a beta of 1.44. The business’s 50 day moving average is $76.24 and its two-hundred day moving average is $67.48.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.97 earnings per share. On average, analysts predict that PayPal Holdings, Inc. will post 4.44 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday. The Goldman Sachs Group increased their target price on PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday. TD Cowen upped their price target on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Robert W. Baird lifted their price objective on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, William Blair upgraded shares of PayPal to a “hold” rating in a report on Tuesday, July 30th. Seventeen equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average target price of $82.03.

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.