White Pine Investment CO Sells 3,199 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

White Pine Investment CO reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,603 shares of the credit services provider’s stock after selling 3,199 shares during the period. White Pine Investment CO’s holdings in PayPal were worth $4,963,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Pittenger & Anderson Inc. boosted its holdings in PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the period. Family Firm Inc. bought a new position in PayPal in the 2nd quarter worth about $29,000. SYSTM Wealth Solutions LLC raised its holdings in shares of PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 167 shares in the last quarter. Tortoise Investment Management LLC boosted its position in shares of PayPal by 930.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after acquiring an additional 465 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in shares of PayPal by 65.8% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 185 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PYPL. Wells Fargo & Company raised their target price on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Susquehanna lifted their price objective on shares of PayPal from $83.00 to $94.00 and gave the stock a “positive” rating in a report on Wednesday. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada upped their price target on shares of PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday. Fifteen analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.83.

PayPal Price Performance

NASDAQ PYPL opened at $77.25 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.24 and a current ratio of 1.25. The stock has a 50-day moving average of $76.50 and a 200 day moving average of $67.69. PayPal Holdings, Inc. has a one year low of $52.55 and a one year high of $83.70. The company has a market capitalization of $77.45 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.41 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data 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 company had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. PayPal’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 earnings per share. On average, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.56 EPS for the current year.

PayPal Company 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.