Sanibel Captiva Trust Company Inc. Trims Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Sanibel Captiva Trust Company Inc. cut its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 115,175 shares of the credit services provider’s stock after selling 10,672 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in PayPal were worth $8,987,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. grew its stake in shares of PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after buying an additional 172 shares during the last quarter. American National Bank purchased a new position in PayPal during the 1st quarter valued at $27,000. Family Firm Inc. bought a new position in PayPal in the 2nd quarter valued at $29,000. SYSTM Wealth Solutions LLC increased its stake in PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 167 shares during the period. Finally, Register Financial Advisors LLC bought a new stake in shares of PayPal during the first quarter worth $30,000. 68.32% of the stock is currently owned by institutional investors.

PayPal Price Performance

NASDAQ:PYPL opened at $81.65 on Thursday. The firm’s fifty day moving average is $71.46 and its two-hundred day moving average is $65.82. The firm has a market cap of $85.41 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.41 and a beta of 1.44. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $82.00. 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 (NASDAQ:PYPL) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same period last year, the company earned $0.83 earnings per share. PayPal’s revenue for the quarter was up 8.2% compared to the same quarter last year. Research analysts expect that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PYPL. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Robert W. Baird raised their target price on shares of PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $69.00 price target on shares of PayPal in a research note on Thursday, September 19th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $78.00 price objective on shares of PayPal in a research note on Wednesday, September 18th. Finally, UBS Group lifted their target price on PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Sixteen analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $76.41.

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.