Ridgewood Investments LLC Cuts Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Ridgewood Investments LLC lowered its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 10.0% in the 3rd quarter, Holdings Channel reports. The firm owned 10,855 shares of the credit services provider’s stock after selling 1,210 shares during the period. Ridgewood Investments LLC’s holdings in PayPal were worth $847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PYPL. Legal & General Group Plc raised its position in PayPal by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after buying an additional 276,287 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after purchasing an additional 1,866,925 shares during the last quarter. Primecap Management Co. CA lifted its position in PayPal by 180.7% during the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after purchasing an additional 3,184,160 shares during the period. Dimensional Fund Advisors LP boosted its holdings in PayPal by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock worth $183,789,000 after purchasing an additional 409,322 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in PayPal by 5.1% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock worth $176,789,000 after purchasing an additional 146,643 shares during the period. 68.32% of the stock is owned by institutional investors.

PayPal Price Performance

Shares of NASDAQ PYPL traded up $2.05 during midday trading on Friday, reaching $79.36. 10,083,594 shares of the stock traded hands, compared to its average volume of 13,970,383. The company’s 50 day moving average is $70.69 and its 200 day moving average is $65.59. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $80.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $83.01 billion, a PE ratio of 19.99, a P/E/G ratio of 1.11 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating 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 analyst estimates of $7.82 billion. During the same quarter last year, the business earned $0.83 earnings per share. PayPal’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Jefferies Financial Group reduced their price target on shares of PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Oppenheimer started coverage on shares of PayPal in a report on Tuesday. They issued a “market perform” rating on the stock. Finally, Susquehanna upped their target price on shares of PayPal from $71.00 to $83.00 and gave the company a “positive” rating in a report on Wednesday, July 31st. Seventeen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.41.

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.