Ridgewood Investments LLC Sells 259 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Ridgewood Investments LLC trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,596 shares of the credit services provider’s stock after selling 259 shares during the quarter. Ridgewood Investments LLC’s holdings in PayPal were worth $904,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. World Investment Advisors LLC bought a new stake in shares of PayPal during the third quarter worth $387,435,000. United Advisor Group LLC purchased a new position in shares of PayPal during the third quarter valued at $810,000. FCG Investment Co purchased a new position in shares of PayPal during the third quarter valued at $1,079,000. Equity Investment Corp increased its stake in shares of PayPal by 3.5% during the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after buying an additional 67,497 shares during the period. Finally, Weil Company Inc. increased its stake in shares of PayPal by 68.9% during the third quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after buying an additional 17,003 shares during the period. 68.32% of the stock is currently owned by institutional investors.

PayPal Price Performance

Shares of PYPL stock traded down $4.98 during trading hours on Friday, hitting $82.96. 4,471,505 shares of the company’s stock were exchanged, compared to its average volume of 6,241,373. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The firm has a market cap of $83.17 billion, a P/E ratio of 19.80, a P/E/G ratio of 1.66 and a beta of 1.44. The firm has a 50 day moving average of $86.51 and a two-hundred day moving average of $75.52. PayPal Holdings, Inc. has a fifty-two week low of $55.77 and a fifty-two week high of $93.66.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 EPS. Sell-side analysts forecast that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a research note on Friday, December 13th. Piper Sandler restated a “neutral” rating and set a $88.00 price target on shares of PayPal in a research note on Friday, November 22nd. Susquehanna lifted their target price on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research note on Monday. Phillip Securities reiterated an “accumulate” rating and issued a $90.00 target price (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 target price on shares of PayPal in a research note on Thursday, December 12th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.65.

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.