Platform Technology Partners Sells 765 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Platform Technology Partners decreased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 15.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,088 shares of the credit services provider’s stock after selling 765 shares during the quarter. Platform Technology Partners’ holdings in PayPal were worth $319,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PYPL. Meridian Management Co. boosted its position in shares of PayPal by 3.6% during the 3rd quarter. Meridian Management Co. now owns 84,284 shares of the credit services provider’s stock valued at $6,577,000 after purchasing an additional 2,947 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in shares of PayPal by 61.6% during the 3rd quarter. Rakuten Securities Inc. now owns 10,832 shares of the credit services provider’s stock worth $845,000 after buying an additional 4,131 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of PayPal by 12.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,189,947 shares of the credit services provider’s stock worth $248,912,000 after buying an additional 364,851 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of PayPal by 19.6% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 166,558 shares of the credit services provider’s stock valued at $13,065,000 after acquiring an additional 27,313 shares in the last quarter. Finally, Lynx Investment Advisory boosted its stake in PayPal by 156.3% during the third quarter. Lynx Investment Advisory now owns 3,140 shares of the credit services provider’s stock worth $245,000 after acquiring an additional 1,915 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays upped their price objective on shares of PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, September 27th. BMO Capital Markets increased their price target on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Daiwa America upgraded PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Canaccord Genuity Group increased their target price on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Sunday, November 3rd. Fifteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.45.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $86.40 on Wednesday. The firm has a market capitalization of $86.62 billion, a PE ratio of 20.62, a P/E/G ratio of 1.55 and a beta of 1.43. 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 50-day moving average price of $77.67 and a two-hundred day moving average price of $68.49. PayPal Holdings, Inc. has a twelve month low of $53.98 and a twelve month high of $87.92.

PayPal (NASDAQ:PYPL) last released 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. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period last year, the firm earned $0.97 EPS. PayPal’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts forecast that PayPal Holdings, Inc. will post 4.56 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.