Independent Advisor Alliance Sells 8,326 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Independent Advisor Alliance lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 16.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 41,951 shares of the credit services provider’s stock after selling 8,326 shares during the quarter. Independent Advisor Alliance’s holdings in PayPal were worth $3,273,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 1832 Asset Management L.P. raised its holdings in shares of PayPal by 44.6% during the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after acquiring an additional 381 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of PayPal by 1.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,472,635 shares of the credit services provider’s stock valued at $98,653,000 after acquiring an additional 23,991 shares in the last quarter. Waverly Advisors LLC raised its holdings in shares of PayPal by 68.9% during the first quarter. Waverly Advisors LLC now owns 18,299 shares of the credit services provider’s stock valued at $1,226,000 after acquiring an additional 7,465 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of PayPal by 9.9% during the first quarter. B. Riley Wealth Advisors Inc. now owns 46,381 shares of the credit services provider’s stock valued at $3,107,000 after acquiring an additional 4,169 shares in the last quarter. Finally, Adalta Capital Management LLC raised its holdings in shares of PayPal by 61.7% during the first quarter. Adalta Capital Management LLC now owns 6,670 shares of the credit services provider’s stock valued at $447,000 after acquiring an additional 2,545 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

PYPL opened at $87.77 on Tuesday. The company’s 50 day moving average is $80.74 and its 200 day moving average is $69.89. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a market cap of $87.99 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.54 and a beta of 1.43. PayPal Holdings, Inc. has a 12-month low of $55.71 and a 12-month high of $88.74.

PayPal (NASDAQ:PYPL) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 EPS. On average, equities research analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on PYPL. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and upped their target price for the company from $68.00 to $72.00 in a report on Friday, August 9th. Canaccord Genuity Group upped their price target on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Susquehanna upped their price target on PayPal from $83.00 to $94.00 and gave the stock a “positive” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their price target on PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a research note on Sunday, November 3rd. Sixteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock 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.