Meritage Portfolio Management Sells 995 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Meritage Portfolio Management cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 134,263 shares of the credit services provider’s stock after selling 995 shares during the period. Meritage Portfolio Management’s holdings in PayPal were worth $10,477,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Family Firm Inc. bought a new stake in shares of PayPal during the 2nd quarter valued at about $29,000. SYSTM Wealth Solutions LLC raised its position in shares of PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares in the last quarter. Tortoise Investment Management LLC lifted its stake in shares of PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 465 shares during the period. LRI Investments LLC bought a new stake in shares of PayPal during the first quarter valued at approximately $34,000. Finally, Financial Management Professionals Inc. grew its stake in PayPal by 125.3% in the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after purchasing an additional 243 shares during the period. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

Shares of NASDAQ:PYPL traded up $1.66 during midday trading on Friday, hitting $83.01. The company had a trading volume of 8,144,180 shares, compared to its average volume of 13,546,967. The company has a market cap of $83.22 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.45 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The company has a fifty day moving average of $77.37 and a two-hundred day moving average of $68.28. PayPal Holdings, Inc. has a 12-month low of $53.87 and a 12-month high of $83.70.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.97 earnings per share. On average, equities research analysts expect that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Stephens upped their target price on shares of PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Morgan Stanley raised their target price on shares of PayPal from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Robert W. Baird boosted their price target on PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Argus raised PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, Phillip Securities reissued an “accumulate” rating and issued a $90.00 target price (up from $80.00) on shares of PayPal in a report on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.45.

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.