Pinnacle Associates Ltd. Cuts Holdings in Paypal Holdings Inc (PYPL)
Pinnacle Associates Ltd. decreased its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 26.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,568 shares of the credit services provider’s stock after selling 4,850 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Paypal were worth $869,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of PYPL. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Paypal during the 3rd quarter worth approximately $113,000. Kistler Tiffany Companies LLC grew its holdings in Paypal by 511.9% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 2,013 shares of the credit services provider’s stock valued at $129,000 after buying an additional 1,684 shares in the last quarter. Harvest Fund Management Co. Ltd grew its holdings in Paypal by 171.4% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,863 shares of the credit services provider’s stock valued at $154,000 after buying an additional 1,808 shares in the last quarter. Thompson Davis & CO. Inc. grew its holdings in Paypal by 294.3% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 2,421 shares of the credit services provider’s stock valued at $155,000 after buying an additional 1,807 shares in the last quarter. Finally, MV Capital Management Inc. grew its holdings in Paypal by 7.2% in the 2nd quarter. MV Capital Management Inc. now owns 2,963 shares of the credit services provider’s stock valued at $159,000 after buying an additional 199 shares in the last quarter. 80.81% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on PYPL. Barclays reaffirmed a “buy” rating on shares of Paypal in a report on Tuesday, November 21st. Canaccord Genuity reiterated a “hold” rating and set a $66.00 target price on shares of Paypal in a research report on Thursday, November 16th. Robert W. Baird upped their target price on Paypal from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, November 16th. Vetr downgraded Paypal from a “buy” rating to a “hold” rating and set a $78.63 target price for the company. in a research report on Friday, November 17th. Finally, KeyCorp restated an “overweight” rating and set a $85.00 price objective (up from $80.00) on shares of Paypal in a research report on Friday, November 17th. Ten analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and three have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $73.24.
Paypal Holdings Inc (NASDAQ:PYPL) opened at $70.97 on Tuesday. Paypal Holdings Inc has a fifty-two week low of $38.65 and a fifty-two week high of $79.39. The firm has a market capitalization of $90,503.83, a P/E ratio of 53.79, a PEG ratio of 3.08 and a beta of 1.03.
Paypal (NASDAQ:PYPL) last issued its quarterly earnings results on Thursday, October 19th. The credit services provider reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. Paypal had a return on equity of 11.33% and a net margin of 12.69%. Paypal’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the company posted $0.35 earnings per share. equities analysts forecast that Paypal Holdings Inc will post 1.37 earnings per share for the current fiscal year.
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PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.
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