Americana Partners LLC Sells 1,003 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Americana Partners LLC cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 15.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,557 shares of the credit services provider’s stock after selling 1,003 shares during the quarter. Americana Partners LLC’s holdings in PayPal were worth $434,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC grew its holdings in shares of PayPal by 7.4% in the third quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 124 shares during the last quarter. First United Bank & Trust grew its holdings in shares of PayPal by 6.4% in the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after purchasing an additional 145 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of PayPal by 3.3% in the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock worth $369,000 after purchasing an additional 152 shares during the last quarter. SYSTM Wealth Solutions LLC grew its holdings in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 167 shares during the last quarter. Finally, First Bank & Trust grew its holdings in shares of PayPal by 4.4% in the third quarter. First Bank & Trust now owns 4,016 shares of the credit services provider’s stock worth $313,000 after purchasing an additional 171 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PYPL shares. William Blair raised shares of PayPal to a “hold” rating in a research note on Tuesday, July 30th. Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. The Goldman Sachs Group upped their price objective on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday. Oppenheimer started coverage on shares of PayPal in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Finally, TD Cowen upped their price objective on shares of PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Seventeen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $82.29.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $77.25 on Friday. PayPal Holdings, Inc. has a twelve month low of $52.55 and a twelve month high of $83.70. The company’s 50 day moving average is $76.50 and its 200 day moving average is $67.66. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.49. The company has a market cap of $77.45 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.40 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.12. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the prior year, the company earned $0.97 EPS. PayPal’s quarterly revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.54 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.