Raymond James Trust N.A. Sells 1,106 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Raymond James Trust N.A. trimmed its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,665 shares of the credit services provider’s stock after selling 1,106 shares during the period. Raymond James Trust N.A.’s holdings in PayPal were worth $1,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. United Advisor Group LLC purchased a new position in shares of PayPal in the 3rd quarter worth $810,000. FCG Investment Co purchased a new position in PayPal in the third quarter worth about $1,079,000. Equity Investment Corp increased its stake in PayPal by 3.5% during the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock worth $155,927,000 after acquiring an additional 67,497 shares during the last quarter. Weil Company Inc. raised its position in PayPal by 68.9% during the third quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after purchasing an additional 17,003 shares during the period. Finally, Brown Financial Advisors purchased a new stake in PayPal during the second quarter valued at approximately $1,454,000. 68.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on PYPL shares. Mizuho increased their price target on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Stephens raised their target price on shares of PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Phillip Securities reiterated an “accumulate” rating and set a $90.00 price target (up from $80.00) on shares of PayPal in a report on Friday, November 1st. Jefferies Financial Group decreased their price objective on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Finally, Robert W. Baird upped their target price on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.60.

PayPal Trading Up 2.3 %

Shares of PayPal stock opened at $86.77 on Monday. PayPal Holdings, Inc. has a fifty-two week low of $55.55 and a fifty-two week high of $87.92. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market capitalization of $86.99 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.51 and a beta of 1.43. The stock has a 50 day moving average of $80.41 and a 200 day moving average of $69.72.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period last year, the company earned $0.97 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, research 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.