Webster Bank N. A. Trims Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Webster Bank N. A. cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.6% during the third quarter, HoldingsChannel.com reports. The fund owned 2,596 shares of the credit services provider’s stock after selling 245 shares during the quarter. Webster Bank N. A.’s holdings in PayPal were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Shaker Investments LLC OH purchased a new position in PayPal during the 3rd quarter worth $2,163,000. CHICAGO TRUST Co NA acquired a new position in PayPal in the 3rd quarter valued at about $253,000. Exchange Traded Concepts LLC raised its stake in PayPal by 10.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 182,951 shares of the credit services provider’s stock valued at $14,276,000 after acquiring an additional 17,290 shares during the last quarter. Carnegie Investment Counsel grew its stake in shares of PayPal by 14.4% in the 3rd quarter. Carnegie Investment Counsel now owns 219,889 shares of the credit services provider’s stock valued at $17,158,000 after purchasing an additional 27,705 shares during the last quarter. Finally, Ritholtz Wealth Management increased its holdings in shares of PayPal by 3.3% in the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock valued at $369,000 after purchasing an additional 152 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PYPL shares. Wells Fargo & Company lifted their price objective on shares of PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Oppenheimer initiated coverage on PayPal in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Jefferies Financial Group lowered their price objective on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Finally, Barclays boosted their price target on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Seventeen equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.71.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $80.51 on Monday. The firm has a market cap of $84.22 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 1.49 and a beta of 1.44. 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’s fifty day moving average price is $72.42 and its two-hundred day moving average price is $66.12. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $82.00.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS. On average, equities analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

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.