Summit Place Financial Advisors LLC Has $375,000 Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Summit Place Financial Advisors LLC cut its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 29.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,800 shares of the credit services provider’s stock after selling 1,975 shares during the period. Summit Place Financial Advisors LLC’s holdings in PayPal were worth $375,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vicus Capital acquired a new position in shares of PayPal during the first quarter worth approximately $253,000. Founders Financial Securities LLC increased its stake in shares of PayPal by 10.6% in the 1st quarter. Founders Financial Securities LLC now owns 7,299 shares of the credit services provider’s stock valued at $489,000 after buying an additional 697 shares during the period. Miracle Mile Advisors LLC raised its position in shares of PayPal by 38.1% during the first quarter. Miracle Mile Advisors LLC now owns 11,361 shares of the credit services provider’s stock worth $761,000 after acquiring an additional 3,134 shares during the last quarter. Claro Advisors LLC lifted its stake in shares of PayPal by 19.3% during the first quarter. Claro Advisors LLC now owns 5,581 shares of the credit services provider’s stock valued at $374,000 after acquiring an additional 904 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in PayPal by 18.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock valued at $15,686,000 after acquiring an additional 36,994 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PYPL has been the topic of a number of research reports. Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and upped their target price for the company from $68.00 to $72.00 in a research report on Friday, August 9th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 target price on shares of PayPal in a report on Wednesday, July 31st. Robert W. Baird upped their target price on shares of PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group lifted their price objective on PayPal from $69.00 to $79.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $84.00 price objective on shares of PayPal in a report on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.77.

PayPal Price Performance

NASDAQ:PYPL opened at $83.03 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s 50-day simple moving average is $75.65 and its 200 day simple moving average is $67.17. The company has a market cap of $86.85 billion, a P/E ratio of 20.83, a P/E/G ratio of 1.50 and a beta of 1.44. PayPal Holdings, Inc. has a 52-week low of $50.58 and a 52-week high of $83.31.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same period in the previous year, the business earned $0.83 EPS. PayPal’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.44 EPS for the current fiscal 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.