Ridgewood Investments LLC Reduces Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Ridgewood Investments LLC trimmed its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.4% in the 4th quarter, Holdings Channel reports. The firm owned 10,596 shares of the credit services provider’s stock after selling 259 shares during the period. Ridgewood Investments LLC’s holdings in PayPal were worth $904,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC grew its holdings in PayPal by 7.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock valued at $141,000 after buying an additional 124 shares in the last quarter. First United Bank & Trust lifted its stake in shares of PayPal by 6.4% in the 3rd quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock valued at $187,000 after purchasing an additional 145 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of PayPal by 3.3% in the 3rd quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock valued at $369,000 after purchasing an additional 152 shares during the last quarter. Laraway Financial Advisors Inc lifted its stake in shares of PayPal by 3.8% in the 3rd quarter. Laraway Financial Advisors Inc now owns 4,228 shares of the credit services provider’s stock valued at $330,000 after purchasing an additional 154 shares during the last quarter. Finally, SYSTM Wealth Solutions LLC lifted its stake 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 purchasing an additional 167 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Performance

Shares of PYPL stock traded down $4.98 during midday trading on Friday, hitting $82.96. The company had a trading volume of 4,471,505 shares, compared to its average volume of 6,241,373. The company’s 50 day simple moving average is $86.51 and its 200 day simple moving average is $75.52. PayPal Holdings, Inc. has a 52-week low of $55.77 and a 52-week high of $93.66. The stock has a market cap of $83.17 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 1.66 and a beta of 1.44. 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 earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same period last year, the business posted $0.97 EPS. The company’s revenue was up 6.0% on a year-over-year basis. Research analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on PYPL. Keefe, Bruyette & Woods upped their price target on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Phillip Securities reaffirmed an “accumulate” rating and issued a $90.00 price target (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 price target on shares of PayPal in a research note on Thursday, December 12th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Finally, Stephens increased their target price on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given 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 $88.65.

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.