Cobblestone Capital Advisors LLC NY Sells 816 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Cobblestone Capital Advisors LLC NY lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 22.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,812 shares of the credit services provider’s stock after selling 816 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in PayPal were worth $219,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mizuho Securities USA LLC boosted its stake in PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after acquiring an additional 10,419,351 shares during the last quarter. FMR LLC raised its holdings in PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after purchasing an additional 7,767,072 shares during the period. Primecap Management Co. CA raised its holdings in PayPal by 180.7% in the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after purchasing an additional 3,184,160 shares during the period. Clearbridge Investments LLC boosted its position in shares of PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of PayPal by 9,864.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock valued at $87,336,000 after buying an additional 1,108,030 shares during the period. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Piper Sandler reaffirmed a “neutral” rating and set a $88.00 price target on shares of PayPal in a research report on Friday, November 22nd. BMO Capital Markets boosted their price objective on PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their target price on PayPal from $84.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird lifted their price target on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, October 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’s stock. According to data from MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus price target of $83.60.

PayPal Price Performance

NASDAQ:PYPL opened at $86.77 on Monday. The company has a market cap of $86.99 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.54 and a beta of 1.43. The firm’s fifty day moving average price is $81.69 and its two-hundred day moving average price is $70.53. PayPal Holdings, Inc. has a one year low of $55.77 and a one year high of $88.74. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 EPS. Equities analysts expect 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.