PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Wedgewood Partners Inc.

Wedgewood Partners Inc. decreased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 495,384 shares of the credit services provider’s stock after selling 7,828 shares during the quarter. PayPal accounts for about 7.3% of Wedgewood Partners Inc.’s holdings, making the stock its 5th largest holding. Wedgewood Partners Inc.’s holdings in PayPal were worth $38,655,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PYPL. Wellington Management Group LLP grew its position in shares of PayPal by 4.3% in the third quarter. Wellington Management Group LLP now owns 2,570,789 shares of the credit services provider’s stock valued at $200,599,000 after purchasing an additional 106,435 shares in the last quarter. Weiss Asset Management LP purchased a new position in PayPal in the third quarter worth approximately $14,867,000. Tabor Asset Management LP grew its position in PayPal by 185.2% in the third quarter. Tabor Asset Management LP now owns 120,367 shares of the credit services provider’s stock worth $9,392,000 after acquiring an additional 78,169 shares during the period. Taika Capital LP grew its position in PayPal by 15.3% in the third quarter. Taika Capital LP now owns 59,699 shares of the credit services provider’s stock worth $4,658,000 after acquiring an additional 7,929 shares during the period. Finally, Sora Investors LLC purchased a new position in shares of PayPal during the third quarter worth $13,265,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Down 0.3 %

Shares of PayPal stock opened at $89.05 on Friday. The company has a fifty day moving average price of $82.43 and a 200 day moving average price of $71.09. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a twelve month low of $55.77 and a twelve month high of $90.27. The stock has a market cap of $89.27 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 1.52 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced 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. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the prior year, the company earned $0.97 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley raised their price target on PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. BMO Capital Markets increased 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. Macquarie increased their price objective on PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Mizuho raised their price target on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada raised their price objective on PayPal from $84.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Seventeen investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.60.

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.