Royal Fund Management LLC reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 77.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,245 shares of the credit services provider’s stock after selling 14,514 shares during the period. Royal Fund Management LLC’s holdings in PayPal were worth $283,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. DoubleLine ETF Adviser LP bought a new stake in shares of PayPal during the 1st quarter worth approximately $973,000. Pinnacle Financial Partners Inc. lifted its stake in shares of PayPal by 16.9% during the 1st quarter. Pinnacle Financial Partners Inc. now owns 95,208 shares of the credit services provider’s stock worth $7,230,000 after acquiring an additional 13,762 shares during the last quarter. Curated Wealth Partners LLC raised its position in PayPal by 5.2% during the 2nd quarter. Curated Wealth Partners LLC now owns 3,683 shares of the credit services provider’s stock valued at $246,000 after purchasing an additional 182 shares in the last quarter. Brookstone Capital Management lifted 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 worth $3,891,000 after buying an additional 37,797 shares during the period. Finally, Albion Financial Group UT lifted its holdings 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 buying an additional 257 shares during the period. 68.42% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on PYPL. Deutsche Bank Aktiengesellschaft lowered their target price on PayPal from $100.00 to $80.00 in a report on Friday, June 9th. Credit Suisse Group reiterated a “neutral” rating and issued a $80.00 target price on shares of PayPal in a report on Monday, July 24th. Barclays reduced their price target on PayPal from $92.00 to $88.00 and set an “overweight” rating for the company in a research report on Friday, August 4th. Wedbush reissued an “outperform” rating and issued a $85.00 price target on shares of PayPal in a research report on Thursday, August 3rd. Finally, Oppenheimer reduced their price target on PayPal from $89.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.48.
PayPal Stock Performance
Shares of PYPL stock opened at $62.94 on Tuesday. The company has a market capitalization of $69.11 billion, a P/E ratio of 17.58, a P/E/G ratio of 0.97 and a beta of 1.34. The business’s 50 day moving average is $66.04 and its two-hundred day moving average is $68.34. 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 12-month low of $57.29 and a 12-month high of $95.64.
PayPal (NASDAQ:PYPL – Get Free Report) last released its earnings results on Wednesday, August 2nd. The credit services provider reported $1.16 earnings per share for the quarter, meeting the consensus estimate of $1.16. The business had revenue of $7.29 billion for 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%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. Analysts expect that PayPal Holdings, Inc. will post 3.81 EPS for the current fiscal year.
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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