Lake Street Advisors Group LLC Sells 582 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Lake Street Advisors Group LLC cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.7% during the 3rd quarter, Holdings Channel reports. The fund owned 11,711 shares of the credit services provider’s stock after selling 582 shares during the period. Lake Street Advisors Group LLC’s holdings in PayPal were worth $914,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC lifted its holdings in shares of PayPal by 47.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 18,526 shares of the credit services provider’s stock worth $1,241,000 after acquiring an additional 5,985 shares during the last quarter. 180 Wealth Advisors LLC bought a new stake in shares of PayPal in the 1st quarter valued at about $516,000. Hennessy Advisors Inc. raised its holdings in shares of PayPal by 7.5% in the 1st quarter. Hennessy Advisors Inc. now owns 21,500 shares of the credit services provider’s stock valued at $1,440,000 after purchasing an additional 1,500 shares in the last quarter. Register Financial Advisors LLC purchased a new position in shares of PayPal in the 1st quarter worth approximately $30,000. Finally, Alpha Omega Wealth Management LLC grew its position in PayPal by 28.9% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 28,152 shares of the credit services provider’s stock worth $1,886,000 after purchasing an additional 6,315 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $81.70 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $75.38 and its two-hundred day moving average is $67.05. The company has a market cap of $85.46 billion, a P/E ratio of 20.58, a P/E/G ratio of 1.50 and a beta of 1.44. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $82.80.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The company had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 earnings per share. On average, equities analysts expect that PayPal Holdings, Inc. will post 4.44 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on PYPL shares. UBS Group boosted their target price on shares of PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Mizuho increased their price target on shares of PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. The Goldman Sachs Group increased their price target on shares of PayPal from $69.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Macquarie raised their target price on shares of PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Seventeen research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $78.03.

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.