Canandaigua National Bank & Trust Co. Sells 957 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Canandaigua National Bank & Trust Co. trimmed its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,429 shares of the credit services provider’s stock after selling 957 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in PayPal were worth $1,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Brown Financial Advisors purchased a new stake in PayPal in the 2nd quarter valued at about $1,454,000. Cape Cod Five Cents Savings Bank purchased a new stake in shares of PayPal in the 2nd quarter worth approximately $3,014,000. Distillate Capital Partners LLC lifted its position in shares of PayPal by 156,934.7% in the 2nd quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock worth $19,957,000 after purchasing an additional 343,687 shares during the period. Fiduciary Alliance LLC lifted its position in shares of PayPal by 604.7% in the 1st quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock worth $3,452,000 after purchasing an additional 45,544 shares during the period. Finally, 1832 Asset Management L.P. lifted its position in shares of PayPal by 44.6% in the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after purchasing an additional 381 shares during the period. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Performance

Shares of PayPal stock traded up $2.05 during trading on Friday, reaching $79.36. The company’s stock had a trading volume of 10,083,594 shares, compared to its average volume of 13,970,383. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $80.63. The business’s 50-day moving average price is $70.69 and its 200-day moving average price is $65.59. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a market cap 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 issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. Equities analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PYPL shares. Oppenheimer started coverage on shares of PayPal in a research report on Tuesday. They issued a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft upped their price target on shares of PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. William Blair upgraded shares of PayPal to a “hold” rating in a research note on Tuesday, July 30th. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Sanford C. Bernstein raised shares of PayPal from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $71.00 to $78.00 in a report on Wednesday, July 31st. Seventeen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.41.

PayPal 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.