Sawgrass Asset Management LLC Sells 6,103 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Sawgrass Asset Management LLC lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 29.9% during the third quarter, Holdings Channel reports. The firm owned 14,313 shares of the credit services provider’s stock after selling 6,103 shares during the period. Sawgrass Asset Management LLC’s holdings in PayPal were worth $1,117,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bruce G. Allen Investments LLC lifted its holdings in shares of PayPal by 7.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 124 shares in the last quarter. First United Bank & Trust lifted its stake in shares of PayPal by 6.4% in the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock valued at $187,000 after buying an additional 145 shares in the last quarter. Ritholtz Wealth Management lifted its stake in shares of PayPal by 3.3% in the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock valued at $369,000 after buying an additional 152 shares in the last quarter. SYSTM Wealth Solutions LLC increased its position in shares of 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 acquiring an additional 167 shares in the last quarter. Finally, First Bank & Trust increased its position in shares of PayPal by 4.4% during the third quarter. First Bank & Trust now owns 4,016 shares of the credit services provider’s stock worth $313,000 after acquiring an additional 171 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Trading Up 0.0 %

Shares of PYPL stock opened at $85.83 on Friday. The stock has a market capitalization of $86.05 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.53 and a beta of 1.43. The company’s fifty day simple moving average is $78.86 and its two-hundred day simple moving average is $69.02. PayPal Holdings, Inc. has a 1 year low of $55.28 and a 1 year high of $87.92. 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 (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 EPS. As a group, analysts anticipate that PayPal Holdings, Inc. will post 4.56 earnings per share for the current year.

Analyst Ratings Changes

PYPL has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price target on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Canaccord Genuity Group lifted their target price on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Susquehanna raised their price objective on PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Finally, Phillip Securities reiterated an “accumulate” rating and issued a $90.00 target price (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.45.

About PayPal

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.