Suncoast Equity Management lowered its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 179,688 shares of the credit services provider’s stock after selling 11,231 shares during the period. Paypal accounts for 6.2% of Suncoast Equity Management’s investment portfolio, making the stock its 5th largest holding. Suncoast Equity Management’s holdings in Paypal were worth $35,404,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Rosenberg Matthew Hamilton acquired a new stake in Paypal during the 2nd quarter worth $26,000. Howe & Rusling Inc. increased its holdings in shares of Paypal by 446.4% in the 2nd quarter. Howe & Rusling Inc. now owns 153 shares of the credit services provider’s stock valued at $27,000 after purchasing an additional 125 shares in the last quarter. Optimum Investment Advisors increased its holdings in shares of Paypal by 344.4% in the 2nd quarter. Optimum Investment Advisors now owns 200 shares of the credit services provider’s stock valued at $35,000 after purchasing an additional 155 shares in the last quarter. Lloyd Advisory Services LLC. purchased a new position in shares of Paypal in the 2nd quarter valued at about $35,000. Finally, Watson Rebecca purchased a new position in shares of Paypal in the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.
A number of brokerages have recently issued reports on PYPL. BidaskClub downgraded shares of Paypal from a “buy” rating to a “hold” rating in a report on Tuesday, October 13th. Bank of America raised their target price on shares of Paypal from $194.00 to $215.00 and gave the company a “buy” rating in a report on Monday, July 13th. Goldman Sachs Group raised their target price on shares of Paypal from $170.00 to $205.00 and gave the company a “conviction-buy” rating in a report on Monday, July 20th. BofA Securities raised their target price on shares of Paypal from $194.00 to $215.00 and gave the company a “buy” rating in a report on Monday, July 13th. Finally, Wedbush raised their target price on shares of Paypal from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Six investment analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $198.27.
PYPL stock traded down $0.89 during midday trading on Friday, reaching $203.04. 6,644,745 shares of the company’s stock traded hands, compared to its average volume of 7,292,775. The company has a market capitalization of $238.23 billion, a P/E ratio of 93.14, a PEG ratio of 3.42 and a beta of 1.11. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.38 and a quick ratio of 1.38. Paypal Holdings Inc has a fifty-two week low of $82.07 and a fifty-two week high of $215.83. The business has a 50-day moving average price of $192.44 and a two-hundred day moving average price of $168.13.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, July 29th. The credit services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.46. The firm had revenue of $5.26 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Paypal had a net margin of 13.44% and a return on equity of 16.17%. Paypal’s revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 earnings per share. As a group, research analysts forecast that Paypal Holdings Inc will post 2.76 earnings per share for the current fiscal year.
PayPal Holdings, Inc operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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