Lynch Asset Management Inc. Decreases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

by · The Cerbat Gem

Lynch Asset Management Inc. cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 13.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,100 shares of the credit services provider’s stock after selling 2,000 shares during the quarter. Lynch Asset Management Inc.’s holdings in PayPal were worth $1,022,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. raised its stake in PayPal by 77.5% in 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. Family Firm Inc. acquired a new position in shares of PayPal in the second quarter valued at about $29,000. SYSTM Wealth Solutions LLC increased its holdings in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares during the period. Register Financial Advisors LLC purchased a new position in shares of PayPal in the first quarter worth about $30,000. Finally, Tortoise Investment Management LLC raised its stake in shares of PayPal by 930.0% in the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 465 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PYPL. Stephens raised their price objective on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Monness Crespi & Hardt lifted their price target on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 price target on shares of PayPal in a research report on Wednesday, July 31st. TD Cowen lifted their price target on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, Argus upgraded PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Seventeen analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.03.

Check Out Our Latest Report on PayPal

PayPal Trading Up 0.4 %

NASDAQ PYPL traded up $0.31 on Friday, reaching $81.70. 7,201,013 shares of the company were exchanged, compared to its average volume of 13,524,066. The business’s fifty day moving average price is $75.65 and its 200 day moving average price is $67.16. The stock has a market capitalization of $85.46 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 1.50 and a beta of 1.44. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $82.80.

PayPal (NASDAQ:PYPL – Get Free Report) last released 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 company 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 firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 earnings per share. Analysts forecast that PayPal Holdings, Inc. will post 4.44 earnings per share for the current year.

PayPal Profile

(Free Report)

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.

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