Griffin Asset Management Inc. Decreases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Griffin Asset Management Inc. decreased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 23.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,749 shares of the credit services provider’s stock after selling 1,179 shares during the quarter. Griffin Asset Management Inc.’s holdings in PayPal were worth $320,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Algert Global LLC purchased a new position in PayPal in the second quarter worth approximately $435,000. Creative Planning raised its holdings in shares of PayPal by 3.4% in the 2nd quarter. Creative Planning now owns 307,093 shares of the credit services provider’s stock valued at $17,821,000 after purchasing an additional 10,034 shares in the last quarter. Sunbelt Securities Inc. lifted its position in shares of PayPal by 14.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 20,334 shares of the credit services provider’s stock worth $1,180,000 after purchasing an additional 2,503 shares during the last quarter. EP Wealth Advisors LLC grew its stake in shares of PayPal by 10.8% during the second quarter. EP Wealth Advisors LLC now owns 11,053 shares of the credit services provider’s stock worth $641,000 after purchasing an additional 1,075 shares in the last quarter. Finally, Greenvale Capital LLP boosted its position in shares of PayPal by 24.4% during the 2nd quarter. Greenvale Capital LLP now owns 2,675,000 shares of the credit services provider’s stock worth $155,230,000 after acquiring an additional 525,000 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $88.19 on Wednesday. The business has a fifty day simple moving average of $87.87 and a 200-day simple moving average of $78.27. PayPal Holdings, Inc. has a 52 week low of $55.77 and a 52 week high of $93.66. The company has a market cap of $88.41 billion, a P/E ratio of 21.05, a P/E/G ratio of 1.54 and a beta of 1.44. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the prior year, the company posted $0.97 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.58 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Bank of America raised PayPal from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $103.00 in a report on Monday, December 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price objective on shares of PayPal in a research note on Thursday, December 12th. Stephens raised their target price on shares of PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Wells Fargo & Company boosted their price target on shares of PayPal from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, Canaccord Genuity Group raised their price objective on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.48.

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.