Stegent Equity Advisors Inc. Decreases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Stegent Equity Advisors Inc. lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 12.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,404 shares of the credit services provider’s stock after selling 616 shares during the quarter. Stegent Equity Advisors Inc.’s holdings in PayPal were worth $344,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Brown Financial Advisors acquired a new position in shares of PayPal in the 2nd quarter valued at $1,454,000. Cape Cod Five Cents Savings Bank purchased a new position in shares of PayPal in the second quarter worth about $3,014,000. Distillate Capital Partners LLC lifted its holdings in shares of PayPal by 156,934.7% during the second quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock worth $19,957,000 after purchasing an additional 343,687 shares during the period. Fiduciary Alliance LLC boosted its position in PayPal by 604.7% in the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock valued at $3,452,000 after buying an additional 45,544 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in PayPal by 44.6% in the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after buying an additional 381 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Monness Crespi & Hardt increased their price objective on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. Stephens boosted their price objective on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $78.00 price target on shares of PayPal in a research report on Wednesday, September 18th. Finally, Macquarie upped their price objective on PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Sixteen equities 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $78.03.

PayPal Trading Up 1.4 %

Shares of PYPL stock traded up $1.12 on Friday, hitting $80.94. 8,844,338 shares of the stock traded hands, compared to its average volume of 13,674,411. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $82.00. The firm’s 50-day moving average price is $74.16 and its two-hundred day moving average price is $66.62. The stock has a market capitalization of $82.75 billion, a PE ratio of 19.60, a PEG ratio of 1.47 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.20. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. PayPal’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 EPS. As a group, analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS for the current 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.