SRN Advisors LLC Has $912,000 Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

SRN Advisors LLC trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 34.6% in the third quarter, Holdings Channel.com reports. The fund owned 11,682 shares of the credit services provider’s stock after selling 6,179 shares during the quarter. SRN Advisors LLC’s holdings in PayPal were worth $912,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Register Financial Advisors LLC acquired a new stake in PayPal during the first quarter valued at approximately $30,000. Vicus Capital acquired a new position in shares of PayPal in the 1st quarter worth approximately $253,000. Founders Financial Securities LLC lifted its position in shares of PayPal by 10.6% during the 1st quarter. Founders Financial Securities LLC now owns 7,299 shares of the credit services provider’s stock worth $489,000 after buying an additional 697 shares during the period. Udine Wealth Management Inc. bought a new position in shares of PayPal during the 1st quarter worth approximately $1,749,000. Finally, Miracle Mile Advisors LLC boosted its stake in PayPal by 38.1% in the 1st quarter. Miracle Mile Advisors LLC now owns 11,361 shares of the credit services provider’s stock valued at $761,000 after buying an additional 3,134 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Jefferies Financial Group dropped their price objective on PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Monness Crespi & Hardt upped 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 America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Finally, The Goldman Sachs Group boosted their target price on PayPal from $69.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Seventeen investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and a consensus target price of $78.03.

PayPal Stock Up 0.4 %

Shares of PayPal stock opened at $81.70 on Friday. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $82.80. The business has a fifty day simple moving average of $75.65 and a 200 day simple moving average of $67.16. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock has a market cap of $85.46 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 1.50 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the prior year, the business posted $0.83 EPS. PayPal’s revenue was up 8.2% on a year-over-year basis. Research analysts predict that PayPal Holdings, Inc. will post 4.44 EPS for the current year.

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.