Intellectus Partners LLC Sells 3,850 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Intellectus Partners LLC cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 39,105 shares of the credit services provider’s stock after selling 3,850 shares during the period. PayPal accounts for 0.8% of Intellectus Partners LLC’s portfolio, making the stock its 25th biggest position. Intellectus Partners LLC’s holdings in PayPal were worth $3,051,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Primecap Management Co. CA lifted its stake in PayPal by 180.7% in the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after buying an additional 3,184,160 shares during the period. Clearbridge Investments LLC lifted its position in shares of PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after acquiring an additional 1,866,925 shares during the period. International Assets Investment Management LLC boosted its stake in PayPal by 9,864.9% during the third quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock worth $87,336,000 after acquiring an additional 1,108,030 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in PayPal by 139.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,544,179 shares of the credit services provider’s stock worth $120,492,000 after acquiring an additional 899,476 shares in the last quarter. Finally, Swedbank AB acquired a new stake in PayPal in the first quarter worth $42,297,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of research analyst reports. BMO Capital Markets increased their price objective on shares of PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Susquehanna increased their price target on PayPal from $83.00 to $94.00 and gave the stock a “positive” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their target price on PayPal from $84.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Fifteen 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.45.

PayPal Stock Performance

NASDAQ:PYPL opened at $85.79 on Friday. The company has a market capitalization of $86.01 billion, a P/E ratio of 20.47, a P/E/G ratio of 1.56 and a beta of 1.43. The business has a fifty day simple moving average of $78.25 and a two-hundred day simple moving average of $68.76. 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 1 year low of $55.28 and a 1 year high of $87.92.

PayPal (NASDAQ:PYPL) last announced 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 business had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 EPS. On average, analysts expect that PayPal Holdings, Inc. will post 4.56 earnings per share 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.