PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department decreased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 17.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,803 shares of the credit services provider’s stock after selling 1,463 shares during the quarter. Mechanics Bank Trust Department’s holdings in PayPal were worth $454,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. DoubleLine ETF Adviser LP purchased a new position in PayPal in the 1st quarter worth about $973,000. Pinnacle Financial Partners Inc. grew its stake in PayPal by 16.9% during the 1st quarter. Pinnacle Financial Partners Inc. now owns 95,208 shares of the credit services provider’s stock valued at $7,230,000 after acquiring an additional 13,762 shares in the last quarter. Brookstone Capital Management increased its holdings 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 valued at $3,891,000 after purchasing an additional 37,797 shares during the period. Albion Financial Group UT lifted its position in shares of PayPal by 4.6% in the first 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 in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of PayPal by 60.5% during the first quarter. CIBC Private Wealth Group LLC now owns 107,586 shares of the credit services provider’s stock worth $9,499,000 after purchasing an additional 40,553 shares during the period. Institutional investors own 68.42% of the company’s stock.

PayPal Stock Performance

PayPal stock opened at $64.21 on Monday. The company has a market cap of $70.51 billion, a PE ratio of 17.94, a PEG ratio of 0.97 and a beta of 1.34. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.54. PayPal Holdings, Inc. has a 1 year low of $57.29 and a 1 year high of $95.64. The company’s 50-day moving average is $66.04 and its two-hundred day moving average is $68.34.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, August 2nd. The credit services provider reported $1.16 earnings per share for the quarter, meeting the consensus estimate of $1.16. PayPal had a net margin of 14.27% and a return on equity of 20.31%. The business had revenue of $7.29 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same period in the prior year, the business posted $0.65 earnings per share. PayPal’s revenue was up 7.1% compared to the same quarter last year. Equities analysts anticipate that PayPal Holdings, Inc. will post 3.81 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on PYPL. Barclays decreased their target price on shares of PayPal from $92.00 to $88.00 and set an “overweight” rating for the company in a research note on Friday, August 4th. Sanford C. Bernstein lowered their price target on PayPal from $85.00 to $70.00 in a research note on Monday, May 22nd. Truist Financial raised their price objective on shares of PayPal from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Morgan Stanley decreased their target price on shares of PayPal from $133.00 to $126.00 and set an “overweight” rating for the company in a research report on Thursday, August 3rd. Finally, Jefferies Financial Group raised their price target on shares of PayPal from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $92.03.

PayPal 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.