Sawgrass Asset Management LLC Decreases Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Sawgrass Asset Management LLC cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 29.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,313 shares of the credit services provider's stock after selling 6,103 shares during the period. Sawgrass Asset Management LLC's holdings in PayPal were worth $1,117,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Planning Capital Management Corp raised its position in PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider's stock worth $32,000 after purchasing an additional 268 shares during the last quarter. Financial Management Professionals Inc. boosted its position in shares of 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 acquiring an additional 243 shares in the last quarter. Family Firm Inc. acquired a new stake in PayPal in the second quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC raised its stake in PayPal by 50.6% during the second 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 last quarter. Finally, LRI Investments LLC acquired a new stake in PayPal in the first quarter worth $34,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PYPL shares. Royal Bank of Canada upped their target price on shares of PayPal from $84.00 to $89.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Monness Crespi & Hardt raised their price objective on PayPal from $95.00 to $110.00 and gave the company a "buy" rating in a report on Monday, October 28th. Oppenheimer initiated coverage on PayPal in a research note on Tuesday, October 1st. They set a "market perform" rating for the company. JPMorgan Chase & Co. increased their target price on PayPal from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Finally, TD Cowen raised their price target on PayPal from $68.00 to $70.00 and gave the stock a "hold" rating in a report on Wednesday, July 31st. Fifteen investment 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $83.45.

PayPal Stock Performance

NASDAQ PYPL traded up $0.04 during trading hours on Friday, reaching $85.83. The stock had a trading volume of 8,083,167 shares, compared to its average volume of 11,479,406. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. PayPal Holdings, Inc. has a 52-week low of $55.28 and a 52-week high of $87.92. The stock has a fifty day moving average of $78.86 and a 200 day moving average of $69.02. The stock has a market cap of $86.05 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 1.53 and a beta of 1.43.

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. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 earnings per share. Sell-side analysts predict that PayPal Holdings, Inc. will post 4.56 earnings per share for the current 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.