PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 79.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,509 shares of the credit services provider’s stock after selling 29,585 shares during the quarter. Kovack Advisors Inc.’s holdings in PayPal were worth $586,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PYPL. Legal & General Group Plc increased its holdings in shares of PayPal by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after purchasing an additional 276,287 shares in the last quarter. Clearbridge Investments LLC increased its holdings in PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of PayPal by 180.7% during the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after acquiring an additional 3,184,160 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of PayPal by 12.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,189,947 shares of the credit services provider’s stock worth $248,912,000 after acquiring an additional 364,851 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in PayPal by 14.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock valued at $183,789,000 after purchasing an additional 409,322 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Trading Down 1.7 %

Shares of PYPL opened at $85.79 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. PayPal Holdings, Inc. has a 12 month low of $55.28 and a 12 month high of $87.92. The stock has a market cap of $86.01 billion, a PE ratio of 20.47, a P/E/G ratio of 1.56 and a beta of 1.43. The stock’s 50-day moving average is $78.25 and its two-hundred day moving average is $68.76.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) 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 firm had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the previous year, the firm posted $0.97 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts forecast that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Stephens upped their target price on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Jefferies Financial Group lowered their price objective on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Robert W. Baird lifted their target price on shares of PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. BMO Capital Markets increased their price target on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Finally, William Blair upgraded PayPal to a “hold” rating in a research report on Tuesday, July 30th. Fifteen 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.45.

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.