WASHINGTON TRUST Co Sells 16,785 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

WASHINGTON TRUST Co lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 220,884 shares of the credit services provider's stock after selling 16,785 shares during the quarter. WASHINGTON TRUST Co's holdings in PayPal were worth $17,236,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PYPL. Walter & Keenan Wealth Management LLC IN ADV purchased a new position in shares of PayPal during the third quarter worth approximately $224,000. Fidelis Capital Partners LLC raised its position in PayPal by 6.1% in the 3rd quarter. Fidelis Capital Partners LLC now owns 5,107 shares of the credit services provider's stock worth $413,000 after purchasing an additional 295 shares during the period. GW Henssler & Associates Ltd. lifted its stake in shares of PayPal by 1.7% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 180,890 shares of the credit services provider's stock valued at $14,115,000 after acquiring an additional 2,990 shares during the last quarter. Strategic Blueprint LLC purchased a new stake in PayPal during the 3rd quarter valued at about $255,000. Finally, Farmers & Merchants Investments Inc. grew its position in PayPal by 2.0% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 163,582 shares of the credit services provider's stock worth $12,764,000 after acquiring an additional 3,230 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company's stock.

PayPal Stock Down 1.8 %

NASDAQ PYPL traded down $1.48 during mid-day trading on Wednesday, reaching $78.80. The stock had a trading volume of 5,400,097 shares, compared to its average volume of 13,596,871. The stock has a market cap of $82.43 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. PayPal Holdings, Inc. has a 1 year low of $50.80 and a 1 year high of $83.70. The company has a fifty day moving average price of $76.10 and a 200 day moving average price of $67.41.

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 the consensus estimate of $1.08 by $0.12. The firm had revenue of $7.85 billion for the quarter, compared to analysts' expectations of $7.88 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company's revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 EPS. On average, research analysts expect that PayPal Holdings, Inc. will post 4.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several recent research reports. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $78.00 price objective on shares of PayPal in a research report on Wednesday, September 18th. Daiwa Capital Markets raised shares of PayPal from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $68.00 to $72.00 in a report on Friday, August 9th. William Blair raised PayPal to a "hold" rating in a research note on Tuesday, July 30th. TD Cowen raised their price target on PayPal from $68.00 to $70.00 and gave the stock a "hold" rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PayPal from $74.00 to $94.00 and gave the company a "buy" rating in a research report on Monday, September 23rd. Seventeen investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $80.57.

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.

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