Hardy Reed LLC Reduces Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Hardy Reed LLC decreased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 44.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,051 shares of the credit services provider's stock after selling 13,044 shares during the period. Hardy Reed LLC's holdings in PayPal were worth $1,252,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of PayPal by 1.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,472,635 shares of the credit services provider's stock worth $98,653,000 after purchasing an additional 23,991 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in PayPal by 9.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 46,381 shares of the credit services provider's stock worth $3,107,000 after acquiring an additional 4,169 shares during the last quarter. Plato Investment Management Ltd raised its holdings in shares of PayPal by 1,030.1% during the 1st quarter. Plato Investment Management Ltd now owns 30,162 shares of the credit services provider's stock worth $2,021,000 after acquiring an additional 27,493 shares in the last quarter. New Covenant Trust Company N.A. bought a new position in shares of PayPal during the 1st quarter valued at approximately $64,000. Finally, Citizens Financial Group Inc. RI grew its holdings in shares of PayPal by 5.4% in the first quarter. Citizens Financial Group Inc. RI now owns 10,485 shares of the credit services provider's stock valued at $702,000 after purchasing an additional 538 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company's stock.

PayPal Stock Down 0.1 %

PYPL stock traded down $0.09 during trading on Wednesday, reaching $86.85. 2,648,765 shares of the company traded hands, compared to its average volume of 13,282,373. The company has a market capitalization of $87.07 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The business has a 50 day simple moving average of $81.04 and a 200 day simple moving average of $70.06. PayPal Holdings, Inc. has a 12 month low of $55.77 and a 12 month high of $88.74.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings results 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 net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $7.85 billion for the quarter, compared to analysts' expectations of $7.88 billion. During the same period last year, the business earned $0.97 EPS. The company's revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PYPL shares. Canaccord Genuity Group upped their price target on shares of PayPal from $80.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Morgan Stanley increased their price target on shares of PayPal from $71.00 to $76.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Daiwa America raised PayPal from a "moderate buy" rating to a "strong-buy" rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $78.00 price objective on shares of PayPal in a research report on Wednesday, September 18th. Finally, Robert W. Baird lifted their target price on PayPal from $80.00 to $91.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Sixteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PayPal currently has an average rating of "Moderate Buy" and a consensus target price of $83.60.

PayPal Company 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.