Flagship Harbor Advisors LLC lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 2.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 29,297 shares of the credit services provider’s stock after selling 735 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in PayPal were worth $1,955,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. DoubleLine ETF Adviser LP bought a new position in shares of PayPal in the 1st quarter worth approximately $973,000. Pinnacle Financial Partners Inc. lifted its stake in shares of PayPal by 16.9% in the 1st quarter. Pinnacle Financial Partners Inc. now owns 95,208 shares of the credit services provider’s stock worth $7,230,000 after purchasing an additional 13,762 shares during the period. Curated Wealth Partners LLC lifted its stake in shares of PayPal by 5.2% in the 2nd quarter. Curated Wealth Partners LLC now owns 3,683 shares of the credit services provider’s stock worth $246,000 after purchasing an additional 182 shares during the period. Brookstone Capital Management lifted its stake in shares of PayPal by 301.8% in the 1st quarter. Brookstone Capital Management now owns 50,319 shares of the credit services provider’s stock worth $3,891,000 after purchasing an additional 37,797 shares during the period. Finally, Albion Financial Group UT lifted its stake in shares of PayPal by 4.6% in the 1st quarter. Albion Financial Group UT now owns 5,813 shares of the credit services provider’s stock worth $441,000 after purchasing an additional 257 shares during the period. Institutional investors own 68.42% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on PYPL. Mizuho reiterated a “buy” rating and issued a $92.00 price objective on shares of PayPal in a research note on Friday. Oppenheimer decreased their target price on shares of PayPal from $89.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. Barclays decreased their target price on shares of PayPal from $92.00 to $88.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PayPal from $100.00 to $80.00 in a research note on Friday, June 9th. Finally, BTIG Research raised their target price on shares of PayPal from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.03.
PayPal Trading Down 0.4 %
PYPL stock opened at $64.21 on Monday. The firm has a market cap of $70.51 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 0.97 and a beta of 1.34. The firm has a fifty day moving average price of $66.04 and a 200 day moving average price of $68.34. PayPal Holdings, Inc. has a fifty-two week low of $57.29 and a fifty-two week high of $95.64. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.30 and a current ratio of 1.30.
PayPal (NASDAQ:PYPL – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The credit services provider reported $1.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.16. The company had revenue of $7.29 billion during the quarter, compared to the consensus estimate of $7.27 billion. PayPal had a return on equity of 20.31% and a net margin of 14.27%. PayPal’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. Sell-side analysts anticipate that PayPal Holdings, Inc. will post 3.81 earnings per share for the current fiscal year.
PayPal Company Profile
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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