Arete Wealth Advisors LLC Sells 6,697 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Arete Wealth Advisors LLC lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 50.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,562 shares of the credit services provider’s stock after selling 6,697 shares during the period. Arete Wealth Advisors LLC’s holdings in PayPal were worth $511,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC boosted its stake in shares of PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after purchasing an additional 10,419,351 shares during the period. Legal & General Group Plc raised its holdings in PayPal by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after purchasing an additional 276,287 shares during the period. Clearbridge Investments LLC lifted its position in PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. Finally, Primecap Management Co. CA grew its holdings in PayPal by 21.6% during the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after purchasing an additional 1,069,356 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Trading Down 1.5 %

NASDAQ PYPL opened at $89.40 on Friday. The stock has a market cap of $89.63 billion, a PE ratio of 21.34, a PEG ratio of 1.66 and a beta of 1.44. PayPal Holdings, Inc. has a 12 month low of $55.77 and a 12 month high of $93.66. The company’s 50-day moving average price is $83.40 and its 200-day moving average price is $71.90. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The business had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 EPS. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PYPL shares. Macquarie lifted their price target on shares of PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Phillip Securities restated an “accumulate” rating and issued a $90.00 price objective (up from $80.00) on shares of PayPal in a research report on Friday, November 1st. Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and increased their target price for the stock from $86.00 to $103.00 in a research report on Monday. Robert W. Baird boosted their price target on PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Sixteen equities research 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 stock. According to data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and a consensus price target of $86.07.

PayPal 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.