CNB Bank Purchases 306 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

CNB Bank boosted its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,447 shares of the credit services provider’s stock after acquiring an additional 306 shares during the period. CNB Bank’s holdings in PayPal were worth $815,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Schaper Benz & Wise Investment Counsel Inc. WI boosted its stake in shares of PayPal by 2.2% in the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 159,656 shares of the credit services provider’s stock valued at $12,458,000 after purchasing an additional 3,379 shares during the last quarter. Resonant Capital Advisors LLC boosted its stake in PayPal by 0.8% in the third quarter. Resonant Capital Advisors LLC now owns 30,298 shares of the credit services provider’s stock valued at $2,364,000 after acquiring an additional 228 shares during the last quarter. Verde Capital Management grew its holdings in PayPal by 1.4% during the 3rd quarter. Verde Capital Management now owns 50,802 shares of the credit services provider’s stock worth $3,964,000 after acquiring an additional 682 shares during the period. Alta Wealth Advisors LLC bought a new stake in shares of PayPal during the 3rd quarter valued at $808,000. Finally, Marks Wealth LLC acquired a new position in shares of PayPal in the 3rd quarter valued at $245,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on PYPL. BMO Capital Markets lifted their price objective on PayPal from $72.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a research report on Friday. The Goldman Sachs Group increased their price target on shares of PayPal from $69.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $68.00 to $72.00 in a report on Friday, August 9th. Finally, UBS Group increased their target price on shares of PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Sixteen investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.03.

PayPal Trading Up 1.4 %

Shares of PYPL stock opened at $80.94 on Friday. The firm has a 50 day moving average price of $74.16 and a two-hundred day moving average price of $66.62. The company has a market capitalization of $82.75 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 1.47 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. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share 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 during the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter in the prior year, the business posted $0.83 earnings per share. PayPal’s revenue was up 8.2% compared to the same quarter last year. As a group, analysts predict that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

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.