Cobblestone Capital Advisors LLC NY Sells 816 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Cobblestone Capital Advisors LLC NY cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 22.5% during the 3rd quarter, Holdings Channel reports. The firm owned 2,812 shares of the credit services provider’s stock after selling 816 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in PayPal were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Maverick Capital Ltd. lifted its position in shares of PayPal by 180.6% during the 3rd quarter. Maverick Capital Ltd. now owns 35,426 shares of the credit services provider’s stock valued at $2,764,000 after acquiring an additional 22,800 shares during the period. Edgestream Partners L.P. raised its stake in PayPal by 24.8% in the third quarter. Edgestream Partners L.P. now owns 35,364 shares of the credit services provider’s stock valued at $2,759,000 after purchasing an additional 7,025 shares in the last quarter. Firsthand Capital Management Inc. raised its stake in PayPal by 100.0% in the third quarter. Firsthand Capital Management Inc. now owns 10,000 shares of the credit services provider’s stock valued at $780,000 after purchasing an additional 5,000 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in PayPal by 502.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,030,190 shares of the credit services provider’s stock worth $80,386,000 after purchasing an additional 859,090 shares during the period. Finally, White Knight Strategic Wealth Advisors LLC increased its holdings in PayPal by 48.0% in the 3rd quarter. White Knight Strategic Wealth Advisors LLC now owns 8,150 shares of the credit services provider’s stock valued at $636,000 after buying an additional 2,645 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Performance

Shares of PYPL stock opened at $86.77 on Monday. The stock has a market capitalization of $86.99 billion, a PE ratio of 20.71, a PEG ratio of 1.54 and a beta of 1.43. The business’s 50 day simple moving average is $81.69 and its 200 day simple moving average is $70.53. 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 one year low of $55.77 and a one year high of $88.74.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates 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 prior year, the firm posted $0.97 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, research analysts forecast that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PYPL shares. Phillip Securities reaffirmed an “accumulate” rating and set a $90.00 price target (up previously from $80.00) on shares of PayPal in a report on Friday, November 1st. Piper Sandler restated a “neutral” rating and set a $88.00 target price on shares of PayPal in a research note on Friday, November 22nd. Robert W. Baird raised their target price on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barclays boosted their price target on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, Royal Bank of Canada raised their price objective on PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal 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.