Arkfeld Wealth Strategies L.L.C. Sells 447 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Arkfeld Wealth Strategies L.L.C. lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,692 shares of the credit services provider’s stock after selling 447 shares during the period. PayPal makes up about 1.6% of Arkfeld Wealth Strategies L.L.C.’s investment portfolio, making the stock its 14th largest position. Arkfeld Wealth Strategies L.L.C.’s holdings in PayPal were worth $3,388,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Brown Financial Advisors bought a new stake in PayPal in the second quarter worth $1,454,000. Cape Cod Five Cents Savings Bank purchased a new stake in PayPal in the 2nd quarter worth about $3,014,000. Distillate Capital Partners LLC boosted its position in shares of PayPal by 156,934.7% during the second quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock valued at $19,957,000 after buying an additional 343,687 shares during the period. Fiduciary Alliance LLC increased its stake in PayPal by 604.7% in the 1st quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock worth $3,452,000 after buying an additional 45,544 shares during the period. Finally, 1832 Asset Management L.P. raised its holdings in shares of PayPal by 44.6% in the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after acquiring an additional 381 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on PYPL shares. JPMorgan Chase & Co. lifted their target price on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Wells Fargo & Company raised their target price on shares of PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group upped their price target on PayPal from $69.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price objective on shares of PayPal in a research report on Wednesday, July 31st. Finally, BMO Capital Markets upped their target price on PayPal from $72.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Seventeen investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.35.

PayPal Stock Down 1.5 %

Shares of NASDAQ:PYPL traded down $1.21 during midday trading on Tuesday, hitting $79.46. 3,328,150 shares of the company’s stock traded hands, compared to its average volume of 13,744,888. The firm’s fifty day moving average price is $72.82 and its two-hundred day moving average price is $66.22. 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 twelve month low of $50.25 and a twelve month high of $82.00. The company has a market cap of $83.12 billion, a PE ratio of 19.91, a P/E/G ratio of 1.49 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. The company had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 EPS. On average, equities research analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal 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.