Clear Harbor Asset Management LLC Sells 3,054 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Clear Harbor Asset Management LLC lessened its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 28.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,848 shares of the credit services provider’s stock after selling 3,054 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in PayPal were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PYPL. Pittenger & Anderson Inc. boosted its position in shares of PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after buying an additional 172 shares during the last quarter. American National Bank bought a new stake in PayPal during the 1st quarter valued at approximately $27,000. Private Wealth Management Group LLC purchased a new position in PayPal during the 4th quarter valued at approximately $29,000. Register Financial Advisors LLC purchased a new position in PayPal during the 1st quarter valued at approximately $30,000. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after buying an additional 185 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Up 0.1 %

PYPL traded up $0.06 on Friday, hitting $68.00. 6,507,834 shares of the company were exchanged, compared to its average volume of 14,467,068. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $70.66. The company has a market cap of $69.52 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 0.92 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 firm has a 50-day moving average price of $61.21 and a two-hundred day moving average price of $62.34.

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

Wall Street Analysts Forecast Growth

PYPL has been the subject of a number of recent research reports. Jefferies Financial Group dropped their target price on PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 target price on shares of PayPal in a report on Wednesday, July 31st. Susquehanna boosted their price objective on PayPal from $71.00 to $83.00 and gave the company a “positive” rating in a report on Wednesday, July 31st. UBS Group boosted their price objective on PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Mizuho raised PayPal from a “neutral” rating to a “buy” rating and lifted their target price for the company from $68.00 to $90.00 in a research report on Thursday, May 30th. Seventeen analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.25.

Insider Buying and Selling

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the transaction, the director now owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.