Grimes & Company Inc. Sells 6,551 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Grimes & Company Inc. lowered its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 140,887 shares of the credit services provider’s stock after selling 6,551 shares during the period. Grimes & Company Inc.’s holdings in PayPal were worth $10,993,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in PYPL. Pittenger & Anderson Inc. increased its stake in PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares during the period. Register Financial Advisors LLC bought a new position in shares of PayPal in the 1st quarter valued at $30,000. CarsonAllaria Wealth Management Ltd. increased its stake in shares of 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 purchasing an additional 185 shares during the last quarter. Family Firm Inc. bought a new position in shares of PayPal in the 2nd quarter valued at $29,000. Finally, SYSTM Wealth Solutions LLC increased its stake in shares of 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 purchasing an additional 167 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

Shares of PYPL traded up $1.14 during midday trading on Thursday, hitting $81.97. 968,086 shares of the company traded hands, compared to its average volume of 13,523,599. The firm has a 50 day moving average of $75.11 and a 200-day moving average of $66.95. 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 stock has a market cap of $83.80 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.47 and a beta of 1.44. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $82.29.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same period last year, the company posted $0.83 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts forecast that PayPal Holdings, Inc. will post 4.44 EPS for the current fiscal year.

Analyst Ratings Changes

PYPL has been the topic of several recent analyst reports. TD Cowen lifted their price target on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. UBS Group boosted their target price on PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Jefferies Financial Group decreased their target price on PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Macquarie boosted their target price on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Susquehanna boosted their price objective on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a report on Wednesday, July 31st. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.