Harbour Trust & Investment Management Co Decreases Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Harbour Trust & Investment Management Co reduced its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,580 shares of the credit services provider’s stock after selling 300 shares during the period. Harbour Trust & Investment Management Co’s holdings in PayPal were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pittenger & Anderson Inc. lifted its stake in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after buying an additional 172 shares in the last quarter. Family Firm Inc. purchased a new position in PayPal during the second quarter worth about $29,000. SYSTM Wealth Solutions LLC raised its stake in PayPal by 50.6% during 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 period. Register Financial Advisors LLC purchased a new position in PayPal during the first quarter worth about $30,000. Finally, Tortoise Investment Management LLC raised its stake in PayPal by 930.0% during the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 465 shares during the period. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on PYPL. Oppenheimer began coverage on shares of PayPal in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. Jefferies Financial Group reduced their target price on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. JPMorgan Chase & Co. lifted their target price on shares of PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. William Blair raised shares of PayPal to a “hold” rating in a research note on Tuesday, July 30th. Finally, Barclays lifted their price target on shares of PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Sixteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and an average target price of $78.03.

PayPal Trading Up 0.7 %

NASDAQ:PYPL opened at $81.39 on Friday. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $82.48. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $75.11 and a 200-day simple moving average of $66.95. The company has a market capitalization of $85.14 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.50 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate 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 in the prior year, the business earned $0.83 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities research analysts expect that PayPal Holdings, Inc. will post 4.44 earnings per share 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.