K.J. Harrison & Partners Inc Reduces Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

K.J. Harrison & Partners Inc lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 10.0% in the 4th quarter, HoldingsChannel reports. The firm owned 18,018 shares of the credit services provider’s stock after selling 2,000 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in PayPal were worth $1,553,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of PYPL. Allworth Financial LP increased its position in PayPal by 11.4% in the third quarter. Allworth Financial LP now owns 5,727 shares of the credit services provider’s stock worth $447,000 after buying an additional 588 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of PayPal by 40.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 73,537 shares of the credit services provider’s stock worth $5,738,000 after acquiring an additional 21,002 shares during the period. J.W. Cole Advisors Inc. increased its holdings in PayPal by 62.8% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 10,348 shares of the credit services provider’s stock worth $807,000 after acquiring an additional 3,991 shares during the last quarter. Hunter Associates Investment Management LLC bought a new stake in PayPal in the 3rd quarter valued at about $265,000. Finally, Pallas Capital Advisors LLC purchased a new stake in PayPal during the third quarter valued at about $723,000. Institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

Shares of PayPal stock opened at $72.05 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66. The company has a fifty day moving average of $84.25 and a 200-day moving average of $80.96. The stock has a market capitalization of $71.27 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.27 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.48 earnings per share. Equities research analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PYPL. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research note on Wednesday. BTIG Research reiterated a “neutral” rating on shares of PayPal in a research note on Tuesday, February 4th. Phillip Securities restated an “accumulate” rating and set a $90.00 target price (up previously from $80.00) on shares of PayPal in a research report on Friday, November 1st. Susquehanna raised their price target on PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a report on Monday, January 6th. Finally, Canaccord Genuity Group boosted their price objective on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Fourteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.55.

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.