Bartlett & CO. Wealth Management LLC Sells 438 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Bartlett & CO. Wealth Management LLC cut its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,339 shares of the credit services provider’s stock after selling 438 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in PayPal were worth $651,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mather Group LLC. purchased a new position in PayPal in the first quarter worth $71,000. Wedmont Private Capital purchased a new position in PayPal during the 1st quarter worth $224,000. Park Avenue Securities LLC increased its position in PayPal by 47.3% during the 1st quarter. Park Avenue Securities LLC now owns 19,306 shares of the credit services provider’s stock valued at $1,293,000 after buying an additional 6,203 shares in the last quarter. RFG Advisory LLC purchased a new stake in PayPal in the first quarter valued at about $367,000. Finally, International Assets Investment Management LLC boosted its holdings in PayPal by 10.9% in the first quarter. International Assets Investment Management LLC now owns 11,887 shares of the credit services provider’s stock worth $773,000 after acquiring an additional 1,171 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Trading Up 1.4 %

Shares of NASDAQ:PYPL opened at $80.94 on Monday. The firm has a market capitalization of $84.67 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.47 and a beta of 1.44. The business’s 50 day moving average price is $74.16 and its 200-day moving average price is $66.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $82.00.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. The business had revenue of $7.89 billion for 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 company’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $0.83 earnings per share. On average, equities research analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $78.00 price objective on shares of PayPal in a research report on Wednesday, September 18th. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 price objective on shares of PayPal in a research note on Wednesday, July 31st. UBS Group upped their target price on PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. Finally, Evercore ISI increased their price objective on PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Sixteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.03.

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.