PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 810,391 shares of the credit services provider’s stock after selling 3,234 shares during the period. Douglas Lane & Associates LLC’s holdings in PayPal were worth $63,235,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Shaker Investments LLC OH acquired a new stake in PayPal in the third quarter valued at about $2,163,000. CHICAGO TRUST Co NA acquired a new stake in PayPal in the third quarter valued at about $253,000. Exchange Traded Concepts LLC lifted its position in PayPal by 10.4% in the third quarter. Exchange Traded Concepts LLC now owns 182,951 shares of the credit services provider’s stock valued at $14,276,000 after purchasing an additional 17,290 shares during the period. Carnegie Investment Counsel lifted its position in PayPal by 14.4% in the third quarter. Carnegie Investment Counsel now owns 219,889 shares of the credit services provider’s stock valued at $17,158,000 after purchasing an additional 27,705 shares during the period. Finally, Ritholtz Wealth Management lifted its position in shares of PayPal by 3.3% during the 3rd quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock valued at $369,000 after acquiring an additional 152 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Monness Crespi & Hardt lifted their price target on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Evercore ISI lifted their price target on shares of PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. UBS Group lifted their price target on shares of PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Susquehanna lifted their price target on shares of PayPal from $71.00 to $83.00 and gave the company a “positive” rating in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group dropped their price objective on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Seventeen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and a consensus price target of $76.47.

PayPal Stock Up 1.9 %

Shares of PayPal stock traded up $1.53 during trading on Friday, reaching $80.51. The company had a trading volume of 7,744,777 shares, compared to its average volume of 13,838,300. The company has a market cap of $84.22 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44. The firm’s fifty day moving average is $72.42 and its 200-day moving average is $66.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $82.00.

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. The firm had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. PayPal’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 earnings per share. On average, analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS 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.