Bridges Investment Management Inc. Has $1.05 Million Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Bridges Investment Management Inc. decreased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 23.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,473 shares of the credit services provider’s stock after selling 4,196 shares during the period. Bridges Investment Management Inc.’s holdings in PayPal were worth $1,051,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Beta Wealth Group Inc. increased its stake in shares of PayPal by 4.1% in the 3rd quarter. Beta Wealth Group Inc. now owns 7,700 shares of the credit services provider’s stock valued at $601,000 after acquiring an additional 300 shares during the last quarter. Pegasus Partners Ltd. boosted its stake in PayPal by 29.6% during the 3rd quarter. Pegasus Partners Ltd. now owns 4,654 shares of the credit services provider’s stock worth $363,000 after acquiring an additional 1,062 shares during the last quarter. United Bank grew its holdings in PayPal by 9.7% during the third quarter. United Bank now owns 8,941 shares of the credit services provider’s stock valued at $698,000 after purchasing an additional 794 shares during the period. SpiderRock Advisors LLC increased its stake in PayPal by 39.7% in the third quarter. SpiderRock Advisors LLC now owns 27,100 shares of the credit services provider’s stock valued at $2,115,000 after purchasing an additional 7,697 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in PayPal in the third quarter worth $463,000. Institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

PYPL has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price target on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a research note on Sunday, November 3rd. Argus raised PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Phillip Securities reiterated 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. Finally, Sanford C. Bernstein cut PayPal from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. Fifteen equities 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.45.

PayPal Price Performance

Shares of PYPL opened at $83.01 on Friday. The company has a market cap of $83.22 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.45 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $77.37 and its 200 day simple moving average is $68.28. PayPal Holdings, Inc. has a 1-year low of $53.87 and a 1-year high of $83.70.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period in the previous year, the business earned $0.97 EPS. PayPal’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, research analysts forecast that PayPal Holdings, Inc. will post 4.56 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.