PayPal Holdings, Inc. (NASDAQ:PYPL) Stock Holdings Lessened by Red Spruce Capital LLC

Red Spruce Capital LLC reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,945 shares of the credit services provider’s stock after selling 1,252 shares during the quarter. PayPal comprises about 3.2% of Red Spruce Capital LLC’s holdings, making the stock its 5th biggest holding. Red Spruce Capital LLC’s holdings in PayPal were worth $7,096,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Handelsbanken Fonder AB lifted its stake in PayPal by 2.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 348,765 shares of the credit services provider’s stock worth $27,214,000 after purchasing an additional 8,624 shares in the last quarter. Grandview Asset Management LLC bought a new position in shares of PayPal in the third quarter worth $212,000. Wright Investors Service Inc. purchased a new stake in shares of PayPal in the third quarter worth $839,000. Burns J W & Co. Inc. NY purchased a new position in PayPal during the third quarter worth about $211,000. Finally, Harbor Investment Advisory LLC grew its position in PayPal by 8.6% during the third quarter. Harbor Investment Advisory LLC now owns 14,807 shares of the credit services provider’s stock worth $1,155,000 after buying an additional 1,169 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Trading Up 2.7 %

Shares of NASDAQ PYPL traded up $2.05 during trading hours on Friday, hitting $79.36. The company’s stock had a trading volume of 10,083,594 shares, compared to its average volume of 13,970,383. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $80.63. The stock has a market cap of $83.01 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 1.11 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The business has a 50-day simple moving average of $70.69 and a 200-day simple moving average of $65.60.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data 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 firm had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $0.83 EPS. On average, analysts anticipate that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

PYPL has been the topic of several recent analyst reports. Robert W. Baird raised their price target on PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. William Blair raised shares of PayPal to a “hold” rating in a research note on Tuesday, July 30th. Wells Fargo & Company boosted their price target on shares of PayPal from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, Mizuho reiterated an “outperform” rating and issued a $90.00 target price on shares of PayPal in a research report on Tuesday, August 20th. Seventeen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus target price of $76.41.

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.