SeaCrest Wealth Management LLC Trims Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

by · The Markets Daily

SeaCrest Wealth Management LLC trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 3.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,978 shares of the credit services provider’s stock after selling 538 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in PayPal were worth $1,091,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PYPL. Roberts Wealth Advisors LLC boosted its stake in PayPal by 2.5% during the third quarter. Roberts Wealth Advisors LLC now owns 45,040 shares of the credit services provider’s stock valued at $3,655,000 after buying an additional 1,103 shares during the period. Bill Few Associates Inc. boosted its position in shares of PayPal by 1.4% during the 3rd quarter. Bill Few Associates Inc. now owns 23,815 shares of the credit services provider’s stock valued at $1,858,000 after acquiring an additional 329 shares during the last quarter. Foster Victor Wealth Advisors LLC bought a new stake in shares of PayPal during the 3rd quarter valued at about $6,517,000. First United Bank & Trust grew its holdings in shares of PayPal by 6.4% during the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after purchasing an additional 145 shares in the last quarter. Finally, Regatta Capital Group LLC purchased a new stake in PayPal in the third quarter valued at approximately $304,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PYPL. Oppenheimer initiated coverage on shares of PayPal in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Mizuho boosted their price objective on shares of PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday. Macquarie lifted their target price on shares of PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their price objective on PayPal from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $84.00 price target on shares of PayPal in a research report on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.35.

Read Our Latest Stock Analysis on PYPL

PayPal Stock Performance

Shares of PYPL stock opened at $80.82 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The company’s fifty day moving average price is $73.52 and its 200-day moving average price is $66.41. The stock has a market cap of $84.54 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $82.00.

PayPal (NASDAQ:PYPL – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same quarter in the previous year, the firm posted $0.83 earnings per share. PayPal’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities analysts expect that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

PayPal Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report).