Cullinan Associates Inc. Reduces Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Cullinan Associates Inc. reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,715 shares of the credit services provider’s stock after selling 435 shares during the period. Cullinan Associates Inc.’s holdings in PayPal were worth $2,313,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PYPL. Pittenger & Anderson Inc. increased its stake in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after buying an additional 172 shares during the period. Family Firm Inc. bought a new position in shares of PayPal during the second quarter valued at about $29,000. SYSTM Wealth Solutions LLC boosted its holdings in shares of PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 167 shares during the period. Register Financial Advisors LLC bought a new stake in shares of PayPal in the first quarter worth about $30,000. Finally, Tortoise Investment Management LLC raised its position in PayPal by 930.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 465 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

Shares of NASDAQ:PYPL traded up $1.06 during midday trading on Friday, reaching $82.45. 998,279 shares of the company’s stock traded hands, compared to its average volume of 13,494,156. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $82.73. The stock has a 50 day moving average of $75.11 and a 200 day moving average of $66.95. The company has a market cap of $86.25 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.50 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. As a group, equities research analysts anticipate that PayPal Holdings, Inc. will post 4.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PYPL. William Blair upgraded PayPal to a “hold” rating in a research report on Tuesday, July 30th. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on shares of PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price target on shares of PayPal in a research note on Wednesday, July 31st. Sixteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.03.

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.