Nicollet Investment Management Inc. Sells 340 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Nicollet Investment Management Inc. trimmed its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.1% in the third quarter, HoldingsChannel.com reports. The firm owned 31,627 shares of the credit services provider’s stock after selling 340 shares during the period. Nicollet Investment Management Inc.’s holdings in PayPal were worth $2,468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PYPL. United Advisor Group LLC bought a new position in PayPal during the third quarter worth $810,000. FCG Investment Co acquired a new stake in shares of PayPal in the 3rd quarter worth about $1,079,000. Weil Company Inc. boosted its position in shares of PayPal by 68.9% during the third quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after buying an additional 17,003 shares during the last quarter. Brown Financial Advisors bought a new stake in PayPal during the second quarter worth $1,454,000. Finally, Versor Investments LP raised its position in PayPal by 115.9% in the 3rd quarter. Versor Investments LP now owns 26,223 shares of the credit services provider’s stock valued at $2,046,000 after buying an additional 14,079 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PYPL. Royal Bank of Canada increased their target price on shares of PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Jefferies Financial Group reduced their target price on PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Robert W. Baird lifted their price target on PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Phillip Securities restated an “accumulate” rating and issued a $90.00 price objective (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.45.

PayPal Price Performance

PYPL opened at $85.83 on Friday. 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 stock’s 50 day simple moving average is $78.86 and its 200 day simple moving average is $69.01. The firm has a market cap of $86.05 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.56 and a beta of 1.43. PayPal Holdings, Inc. has a 1 year low of $55.28 and a 1 year high of $87.92.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, analysts predict that PayPal Holdings, Inc. will post 4.56 earnings per share 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.