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

First Horizon Advisors Inc. cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Family Firm Inc. bought a new stake in shares of PayPal during the 2nd quarter worth about $29,000. SYSTM Wealth Solutions LLC boosted its position in 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. Tortoise Investment Management LLC grew its holdings in PayPal by 930.0% during the second 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. Planning Capital Management Corp raised its position in shares of PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 268 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of PayPal in the first quarter worth $34,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Sunday, November 3rd. Susquehanna lifted their price objective on PayPal from $83.00 to $94.00 and gave the stock a “positive” rating in a research note on Wednesday, October 30th. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. Sanford C. Bernstein lowered PayPal from an “outperform” rating to a “market perform” rating and raised their target price for the company from $75.00 to $80.00 in a report on Thursday, October 10th. Finally, Morgan Stanley upped their price target on PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Sixteen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and an average price target of $83.60.

PayPal Stock Up 2.3 %

NASDAQ PYPL opened at $86.77 on Friday. The stock’s 50 day simple moving average is $80.41 and its 200 day simple moving average is $69.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. PayPal Holdings, Inc. has a one year low of $55.55 and a one year high of $87.92. The firm has a market cap of $86.99 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 1.50 and a beta of 1.43.

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

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.