Ignite Planners LLC Sells 521 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Ignite Planners LLC lowered its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,605 shares of the credit services provider’s stock after selling 521 shares during the period. Ignite Planners LLC’s holdings in PayPal were worth $335,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hartford Financial Management Inc. grew its position in PayPal by 18.8% during the 4th quarter. Hartford Financial Management Inc. now owns 1,032 shares of the credit services provider’s stock worth $63,000 after acquiring an additional 163 shares during the last quarter. Pittenger & Anderson Inc. increased its stake in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after buying an additional 172 shares during the period. Verity Asset Management Inc. raised its holdings in PayPal by 1.9% during the 1st quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock valued at $650,000 after buying an additional 181 shares during the last quarter. Waldron Private Wealth LLC boosted its position in PayPal by 1.9% during the 4th quarter. Waldron Private Wealth LLC now owns 9,619 shares of the credit services provider’s stock valued at $590,000 after buying an additional 182 shares during the period. Finally, Indiana Trust & Investment Management CO grew its holdings in PayPal by 18.6% in the 1st quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock worth $79,000 after acquiring an additional 184 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PYPL has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Tuesday, April 30th. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird boosted their target price on PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Jefferies Financial Group dropped their price target on PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Finally, Stephens boosted their price objective on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and an average target price of $75.25.

PayPal Stock Performance

NASDAQ PYPL traded up $0.44 during trading hours on Friday, hitting $64.72. 8,605,324 shares of the company’s stock traded hands, compared to its average volume of 14,073,853. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $70.66. The firm has a market capitalization of $66.17 billion, a P/E ratio of 16.30, a P/E/G ratio of 0.89 and a beta of 1.42. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The business’s fifty day moving average price is $61.11 and its two-hundred day moving average price is $62.23.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. PayPal’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 EPS. Equities research analysts predict that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Insider Activity

In related news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $61.65, for a total value of $272,616.30. Following the completion of the sale, the director now directly owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

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.