SOA Wealth Advisors LLC. Sells 262 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

SOA Wealth Advisors LLC. lessened its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 26.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 723 shares of the credit services provider’s stock after selling 262 shares during the quarter. SOA Wealth Advisors LLC.’s holdings in PayPal were worth $42,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Red Door Wealth Management LLC raised its stake in shares of PayPal by 13.2% in the 2nd quarter. Red Door Wealth Management LLC now owns 41,493 shares of the credit services provider’s stock valued at $2,408,000 after buying an additional 4,844 shares in the last quarter. Mayar Capital Ltd. lifted its stake in PayPal by 0.3% during the second quarter. Mayar Capital Ltd. now owns 167,582 shares of the credit services provider’s stock worth $9,725,000 after purchasing an additional 484 shares during the period. 180 Wealth Advisors LLC grew its stake in shares of PayPal by 14.5% in the 2nd quarter. 180 Wealth Advisors LLC now owns 8,820 shares of the credit services provider’s stock valued at $529,000 after purchasing an additional 1,120 shares during the period. Key Client Fiduciary Advisors LLC raised its holdings in shares of PayPal by 4.3% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 27,773 shares of the credit services provider’s stock worth $1,612,000 after buying an additional 1,138 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its position in shares of PayPal by 3.1% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 9,111 shares of the credit services provider’s stock worth $529,000 after buying an additional 270 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PYPL shares. Canaccord Genuity Group restated a “buy” rating and issued a $80.00 target price on shares of PayPal in a research note on Wednesday, July 31st. New Street Research assumed coverage on PayPal in a report on Friday, May 31st. They issued a “buy” rating and a $80.00 target price on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and set a $78.00 target price on shares of PayPal in a report on Thursday, July 11th. Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and raised their price target for the company from $68.00 to $72.00 in a report on Friday, August 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a report on Tuesday, April 30th. 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 company. According to MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and an average price target of $75.25.

PayPal Stock Performance

Shares of PYPL stock traded up $0.21 on Friday, reaching $68.15. The stock had a trading volume of 5,303,356 shares, compared to its average volume of 14,459,445. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $70.66. The firm has a market capitalization of $69.67 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 0.92 and a beta of 1.42. The firm’s 50-day moving average is $61.21 and its two-hundred day moving average is $62.34. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last issued its earnings results 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 company had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same period in the previous year, the company posted $0.83 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts expect that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Insider Buying and Selling

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $61.65, for a total value of $272,616.30. Following the transaction, 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 SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.

About PayPal

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.