Coastwise Capital Group LLC Lowers Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Coastwise Capital Group LLC reduced its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,410 shares of the credit services provider’s stock after selling 232 shares during the period. Coastwise Capital Group LLC’s holdings in PayPal were worth $266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Family Firm Inc. acquired a new position in shares of PayPal during the second quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC raised its stake in 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. Tortoise Investment Management LLC lifted its holdings in PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 465 shares in the last quarter. Planning Capital Management Corp boosted its stake in PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 268 shares during the last quarter. Finally, Financial Management Professionals Inc. grew its holdings in shares of PayPal by 125.3% during the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after buying an additional 243 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PYPL shares. Morgan Stanley boosted their price target on shares of PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Macquarie lifted their price objective on PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. BMO Capital Markets upped their target price on PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Sanford C. Bernstein lowered shares of PayPal from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $75.00 to $80.00 in a report on Thursday, October 10th. Finally, Oppenheimer began coverage on shares of PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Sixteen 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $83.60.

PayPal Stock Up 0.2 %

PayPal stock opened at $86.77 on Monday. The stock has a market cap of $86.99 billion, a PE ratio of 20.71, a P/E/G ratio of 1.54 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The stock’s fifty day moving average is $81.69 and its two-hundred day moving average is $70.53. PayPal Holdings, Inc. has a 1-year low of $55.77 and a 1-year high of $88.74.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 EPS. On average, sell-side analysts expect that PayPal Holdings, Inc. will post 4.57 EPS 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.