Riverstone Advisors LLC Reduces Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Riverstone Advisors LLC lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 47.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,829 shares of the credit services provider’s stock after selling 6,143 shares during the quarter. PayPal comprises 0.3% of Riverstone Advisors LLC’s investment portfolio, making the stock its 27th largest holding. Riverstone Advisors LLC’s holdings in PayPal were worth $533,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mayflower Financial Advisors LLC bought a new stake in PayPal during the 3rd quarter valued at $280,000. Axxcess Wealth Management LLC grew its position in shares of PayPal by 23.4% in the third quarter. Axxcess Wealth Management LLC now owns 13,782 shares of the credit services provider’s stock valued at $1,075,000 after purchasing an additional 2,611 shares in the last quarter. Legacy Capital Wealth Partners LLC raised its stake in shares of PayPal by 101.2% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 23,185 shares of the credit services provider’s stock valued at $1,809,000 after purchasing an additional 11,660 shares during the period. Sigma Planning Corp lifted its holdings in PayPal by 20.0% during the 3rd quarter. Sigma Planning Corp now owns 12,736 shares of the credit services provider’s stock worth $994,000 after purchasing an additional 2,120 shares in the last quarter. Finally, Covestor Ltd boosted its stake in PayPal by 15.4% in the 3rd quarter. Covestor Ltd now owns 2,602 shares of the credit services provider’s stock worth $203,000 after purchasing an additional 347 shares during the period. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Up 2.0 %

Shares of NASDAQ PYPL opened at $83.01 on Friday. The firm’s fifty day moving average is $77.37 and its 200 day moving average is $68.28. PayPal Holdings, Inc. has a 52 week low of $53.87 and a 52 week high of $83.70. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. 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.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Susquehanna upped their price target on PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research report on Wednesday, October 30th. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Phillip Securities reissued an “accumulate” rating and issued a $90.00 price target (up from $80.00) on shares of PayPal in a report on Friday, November 1st. Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Finally, UBS Group lifted their price objective on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and an average target price of $83.45.

About PayPal

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.