Busey Bank Sells 2,238 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Busey Bank decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 23.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,264 shares of the credit services provider’s stock after selling 2,238 shares during the quarter. Busey Bank’s holdings in PayPal were worth $567,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pittenger & Anderson Inc. raised 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 acquiring an additional 172 shares in the last quarter. Register Financial Advisors LLC acquired a new position in PayPal in the 1st quarter valued at approximately $30,000. CarsonAllaria Wealth Management Ltd. raised its holdings in PayPal by 65.8% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after acquiring an additional 185 shares in the last quarter. Family Firm Inc. acquired a new position in PayPal in the 2nd quarter valued at approximately $29,000. Finally, SYSTM Wealth Solutions LLC raised its holdings in 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. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Up 0.4 %

Shares of PYPL opened at $81.70 on Friday. The firm has a market capitalization of $85.46 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 1.50 and a beta of 1.44. 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 business’s fifty day moving average price is $75.38 and its two-hundred day moving average price is $67.05. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $82.80.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 22.82% and a net margin of 14.30%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $0.83 EPS. On average, analysts predict that PayPal Holdings, Inc. will post 4.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on PYPL. The Goldman Sachs Group upped their price target on PayPal from $69.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $78.00 price target on shares of PayPal in a report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft upped their price target on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Barclays upped their price target on PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, William Blair raised PayPal to a “hold” rating in a report on Tuesday, July 30th. Seventeen 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.03.

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.