First Horizon Advisors Inc. Sells 370 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

First Horizon Advisors Inc. lowered its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.0% in the third quarter, HoldingsChannel reports. The fund owned 5,840 shares of the credit services provider’s stock after selling 370 shares during the period. First Horizon Advisors Inc.’s holdings in PayPal were worth $456,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Mizuho Securities USA LLC raised its holdings in PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after purchasing an additional 10,419,351 shares during the last quarter. Legal & General Group Plc grew its position in shares of PayPal by 3.3% during the 2nd 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 during the period. Clearbridge Investments LLC raised its stake in shares of PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after buying an additional 1,866,925 shares during the last quarter. Primecap Management Co. CA lifted its holdings in PayPal by 180.7% in the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after buying an additional 3,184,160 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in PayPal by 12.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,189,947 shares of the credit services provider’s stock valued at $248,912,000 after buying an additional 364,851 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Up 2.3 %

PYPL stock opened at $86.77 on Friday. The company has a market cap of $86.99 billion, a price-to-earnings ratio of 20.71, a P/E/G ratio of 1.50 and a beta of 1.43. PayPal Holdings, Inc. has a twelve month low of $55.55 and a twelve month high of $87.92. The business has a 50 day moving average price of $80.41 and a two-hundred day moving average price of $69.66. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period last year, the business earned $0.97 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. Analysts anticipate that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several recent research reports. The Goldman Sachs Group upped their target price on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their target price on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Robert W. Baird upped their price target on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Stephens boosted their price objective on shares of PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Sixteen 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. According to data from MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and an average price target of $83.60.

About PayPal

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.