Bank Pictet & Cie Europe AG Has $231,000 Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Bank Pictet & Cie Europe AG reduced its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 48.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,985 shares of the credit services provider’s stock after selling 3,691 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in PayPal were worth $231,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of PayPal in the 4th quarter valued at $749,561,000. The Manufacturers Life Insurance Company increased its stake in PayPal by 125.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after purchasing an additional 958,130 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of PayPal by 15.8% during the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after purchasing an additional 904,804 shares during the period. Boston Partners boosted its position in shares of PayPal by 4,024.5% during the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock worth $48,099,000 after purchasing an additional 764,258 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of PayPal by 1,309.2% during the 4th quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock worth $49,168,000 after purchasing an additional 743,833 shares in the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PYPL. TD Cowen upped their price target on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Evercore ISI increased their target price on PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Barclays lifted their price target on shares of PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Tuesday, April 30th. Seventeen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.56.

PayPal Stock Performance

Shares of NASDAQ PYPL traded up $0.18 during trading on Friday, reaching $71.70. 8,210,299 shares of the stock traded hands, compared to its average volume of 14,432,003. The company has a 50-day moving average of $62.00 and a 200-day moving average of $62.67. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $73.25. The stock has a market capitalization of $73.30 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 0.97 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24.

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