Arrow Financial Corp Sells 222 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Arrow Financial Corp reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,982 shares of the credit services provider’s stock after selling 222 shares during the quarter. Arrow Financial Corp’s holdings in PayPal were worth $233,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc grew its position in PayPal by 3.3% in the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after purchasing an additional 276,287 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after acquiring an additional 1,866,925 shares during the last quarter. Primecap Management Co. CA increased its position in shares of PayPal by 180.7% in the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after acquiring an additional 3,184,160 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in PayPal by 14.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock worth $183,789,000 after acquiring an additional 409,322 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in PayPal by 5.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock valued at $176,789,000 after purchasing an additional 146,643 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Trading Up 2.0 %

PYPL opened at $83.01 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a twelve month low of $53.87 and a twelve month high of $83.70. The stock has a market capitalization of $83.22 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.48 and a beta of 1.43. The company has a 50-day simple moving average of $77.37 and a 200 day simple moving average of $68.30.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 EPS. Analysts predict that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PYPL shares. William Blair raised shares of PayPal to a “hold” rating in a research note on Tuesday, July 30th. Stephens lifted their price objective on shares of PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their target price on shares of PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Mizuho lifted their price target on PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, BMO Capital Markets upped their price objective on PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus 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.