PNC Financial Services Group Inc. Has $27.54 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

PNC Financial Services Group Inc. trimmed its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 352,952 shares of the credit services provider’s stock after selling 20,250 shares during the period. PNC Financial Services Group Inc.’s holdings in PayPal were worth $27,541,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Family Firm Inc. bought a new stake in shares of PayPal during the 2nd quarter worth $29,000. SYSTM Wealth Solutions LLC grew its position in PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares in the last quarter. Tortoise Investment Management LLC increased its stake in PayPal by 930.0% during the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after acquiring an additional 465 shares during the period. Planning Capital Management Corp lifted its position in shares of PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 268 shares during the period. Finally, LRI Investments LLC bought a new stake in shares of PayPal during the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PYPL shares. Argus raised PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird upped their price target on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Susquehanna lifted their price objective on PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Finally, Macquarie increased their target price on shares of PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Fifteen 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 stock. Based on data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and a consensus price target of $83.45.

PayPal Trading Up 0.4 %

NASDAQ PYPL opened at $85.04 on Friday. The stock has a market capitalization of $85.26 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.50 and a beta of 1.43. PayPal Holdings, Inc. has a 52 week low of $55.55 and a 52 week high of $87.92. The stock’s 50 day moving average price is $80.07 and its two-hundred day moving average price is $69.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion during 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 firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 earnings per share. As a group, analysts anticipate that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

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.