Kovack Advisors Inc. Sells 29,585 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Kovack Advisors Inc. lowered its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 79.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,509 shares of the credit services provider's stock after selling 29,585 shares during the period. Kovack Advisors Inc.'s holdings in PayPal were worth $586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in PYPL. Family Firm Inc. acquired a new stake in shares of PayPal during the 2nd quarter valued at $29,000. SYSTM Wealth Solutions LLC lifted its holdings in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock worth $29,000 after buying an additional 167 shares during the period. Tortoise Investment Management LLC lifted its holdings in PayPal by 930.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider's stock worth $30,000 after buying an additional 465 shares during the period. LRI Investments LLC acquired a new position in PayPal during the 1st quarter worth about $34,000. Finally, Financial Management Professionals Inc. lifted its holdings in PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider's stock worth $34,000 after buying an additional 243 shares during the period. Institutional investors own 68.32% of the company's stock.

Wall Street Analyst Weigh In

PYPL has been the subject of a number of research analyst reports. Robert W. Baird boosted their target price on PayPal from $80.00 to $91.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Daiwa Capital Markets upgraded PayPal from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $68.00 to $72.00 in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft boosted 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. Wells Fargo & Company upped their price target on shares of PayPal from $70.00 to $75.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Finally, Morgan Stanley increased their target price on PayPal from $71.00 to $76.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Fifteen research 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $83.45.

PayPal Stock Performance

Shares of PYPL traded up $0.04 on Friday, reaching $85.83. 8,046,915 shares of the company's stock traded hands, compared to its average volume of 13,473,038. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock has a market cap of $86.05 billion, a PE ratio of 20.32, a PEG ratio of 1.56 and a beta of 1.43. The stock's 50 day simple moving average is $78.52 and its two-hundred day simple moving average is $68.88. PayPal Holdings, Inc. has a 52-week low of $55.28 and a 52-week high of $87.92.

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

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.