Sky Investment Group LLC Has $235,000 Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Sky Investment Group LLC decreased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,042 shares of the credit services provider’s stock after selling 407 shares during the quarter. Sky Investment Group LLC’s holdings in PayPal were worth $235,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sapient Capital LLC acquired a new position in shares of PayPal in the 4th quarter worth approximately $806,000. Fiduciary Alliance LLC boosted its stake in PayPal by 604.7% in the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock worth $3,452,000 after purchasing an additional 45,544 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of PayPal by 2.2% during the fourth quarter. Vontobel Holding Ltd. now owns 1,737,878 shares of the credit services provider’s stock worth $106,723,000 after purchasing an additional 37,692 shares during the last quarter. 1832 Asset Management L.P. increased its stake 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 buying an additional 381 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of PayPal by 18.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock valued at $15,686,000 after buying an additional 36,994 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

Insider Activity at PayPal

In other PayPal 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 sale, the director now directly owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PYPL has been the topic of a number of research analyst reports. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their price target on shares of PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Stephens boosted their price objective on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Macquarie increased their price objective on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $68.00 to $72.00 in a research note on Friday, August 9th. Seventeen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $75.25.

PayPal Stock Up 1.6 %

Shares of PYPL traded up $1.03 during midday trading on Wednesday, hitting $66.14. The stock had a trading volume of 8,843,838 shares, compared to its average volume of 14,527,667. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $67.62 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 0.92 and a beta of 1.42. The company has a 50 day simple moving average of $61.19 and a two-hundred day simple moving average of $62.30. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $70.66.

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

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.