Pinnacle Financial Partners Inc Sells 20,465 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Pinnacle Financial Partners Inc decreased its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 82.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,450 shares of the credit services provider's stock after selling 20,465 shares during the period. Pinnacle Financial Partners Inc's holdings in PayPal were worth $347,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PYPL. Legal & General Group Plc grew its holdings in shares of PayPal by 3.3% during the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider's stock worth $501,184,000 after buying an additional 276,287 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of PayPal by 28.1% in the 2nd 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 in the last quarter. Primecap Management Co. CA raised its holdings in shares of PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider's stock worth $287,043,000 after acquiring an additional 3,184,160 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of PayPal by 12.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,189,947 shares of the credit services provider's stock worth $248,912,000 after purchasing an additional 364,851 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of PayPal by 14.8% in 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 purchasing an additional 409,322 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.

PayPal Price Performance

Shares of NASDAQ PYPL traded down $0.24 during mid-day trading on Friday, reaching $85.55. The company's stock had a trading volume of 4,404,449 shares, compared to its average volume of 13,455,005. 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 stock has a market capitalization of $85.77 billion, a P/E ratio of 20.32, a P/E/G ratio of 1.56 and a beta of 1.43. The stock has a 50-day moving average of $78.52 and a two-hundred day moving average of $68.88. PayPal Holdings, Inc. has a 1-year low of $55.28 and a 1-year high of $87.92.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping 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 business had revenue of $7.85 billion for the quarter, compared to analysts' expectations of $7.88 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. 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 4.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on PYPL. Phillip Securities reiterated an "accumulate" rating and issued a $90.00 price objective (up previously from $80.00) on shares of PayPal in a report on Friday, November 1st. Oppenheimer assumed coverage on shares of PayPal in a research report on Tuesday, October 1st. They issued a "market perform" rating on the stock. TD Cowen raised their target price on shares of PayPal from $68.00 to $70.00 and gave the company a "hold" rating in a research report on Wednesday, July 31st. Stephens boosted their target price on shares of PayPal from $75.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Friday, October 18th. Finally, Daiwa America upgraded PayPal from a "moderate buy" rating to a "strong-buy" rating in a research note on Friday, August 9th. Fifteen research 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $83.45.

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.