Bangor Savings Bank Has $34,000 Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Bangor Savings Bank decreased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 36.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 581 shares of the credit services provider’s stock after selling 336 shares during the period. Bangor Savings Bank’s holdings in PayPal were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Sapient Capital LLC acquired a new stake in shares of PayPal during the fourth quarter worth approximately $806,000. Louisiana State Employees Retirement System acquired a new stake in shares of PayPal in the fourth quarter valued at approximately $9,267,000. Fiduciary Alliance LLC increased its holdings in shares of PayPal by 604.7% in the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock valued at $3,452,000 after purchasing an additional 45,544 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in shares of PayPal by 2.2% in the fourth quarter. Vontobel Holding Ltd. now owns 1,737,878 shares of the credit services provider’s stock valued at $106,723,000 after purchasing an additional 37,692 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of PayPal by 44.6% in the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after purchasing an additional 381 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analysts Set New Price Targets

PYPL has been the subject of a number of research reports. JMP Securities raised their price target on shares of PayPal from $70.00 to $82.00 and gave the company a “market outperform” rating in a report on Wednesday, May 1st. Wells Fargo & Company raised their price target on shares of PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. BMO Capital Markets raised their price objective on shares of PayPal from $65.00 to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein raised shares of PayPal from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $71.00 to $78.00 in a research note on Wednesday, July 31st. Finally, New Street Research started coverage on shares of PayPal in a research note on Friday, May 31st. They issued a “buy” rating and a $80.00 price objective on the stock. Seventeen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.25.

PayPal Stock Up 3.2 %

PYPL stock traded up $2.03 during midday trading on Tuesday, hitting $65.49. The company’s stock had a trading volume of 4,566,065 shares, compared to its average volume of 14,537,442. 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 Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $70.66. The company’s fifty day moving average price is $61.11 and its 200 day moving average price is $62.25. The stock has a market capitalization of $68.51 billion, a P/E ratio of 16.39, a PEG ratio of 0.89 and a beta of 1.42.

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

Insider Buying and Selling at PayPal

In other news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the transaction, the director now directly owns 13,976 shares in the company, valued at approximately $861,620.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

PayPal 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.