PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Cornerstone Wealth Group LLC

by · The Markets Daily

Cornerstone Wealth Group LLC lessened its stake in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 5.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,493 shares of the credit services provider’s stock after selling 214 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in PayPal were worth $273,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PYPL. Allspring Global Investments Holdings LLC raised its stake in shares of PayPal by 18.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock valued at $15,686,000 after acquiring an additional 36,994 shares during the period. Norden Group LLC raised its stake in shares of PayPal by 197.3% in the 1st quarter. Norden Group LLC now owns 82,620 shares of the credit services provider’s stock valued at $5,535,000 after acquiring an additional 54,832 shares during the period. First Trust Direct Indexing L.P. increased its stake in PayPal by 23.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 23,463 shares of the credit services provider’s stock worth $1,572,000 after buying an additional 4,434 shares during the period. Van ECK Associates Corp increased its stake in PayPal by 33.8% during the 1st quarter. Van ECK Associates Corp now owns 77,308 shares of the credit services provider’s stock worth $5,179,000 after buying an additional 19,510 shares during the period. Finally, Private Advisor Group LLC increased its stake in PayPal by 14.2% during the 1st quarter. Private Advisor Group LLC now owns 168,866 shares of the credit services provider’s stock worth $11,312,000 after buying an additional 21,047 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Up 1.4 %

PYPL stock opened at $79.30 on Friday. PayPal Holdings, Inc. has a 12 month low of $50.80 and a 12 month high of $83.70. The firm has a market cap of $79.50 billion, a PE ratio of 18.93, a P/E/G ratio of 1.40 and a beta of 1.44. The firm has a 50 day simple moving average of $76.39 and a 200 day simple moving average of $67.56. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.24.

PayPal (NASDAQ:PYPL – Get Free Report) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.08 by $0.12. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 earnings per share. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PYPL shares. JPMorgan Chase & Co. lifted their price target on shares of PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday. Sanford C. Bernstein downgraded shares of PayPal from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. William Blair raised shares of PayPal to a “hold” rating in a research note on Tuesday, July 30th. Monness Crespi & Hardt lifted their price target on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Mizuho upped their target price on shares of PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Seventeen equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.03.

Read Our Latest Report on PayPal

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.

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