Parsons Capital Management Inc. RI Has $402,000 Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Parsons Capital Management Inc. RI reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,922 shares of the credit services provider’s stock after selling 361 shares during the period. Parsons Capital Management Inc. RI’s holdings in PayPal were worth $402,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Pittenger & Anderson Inc. raised 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 worth $26,000 after purchasing an additional 172 shares during the period. American National Bank acquired a new position in shares of PayPal in the first quarter valued at approximately $27,000. Private Wealth Management Group LLC acquired a new position in shares of PayPal in the fourth quarter valued at approximately $29,000. Register Financial Advisors LLC bought a new stake in shares of PayPal during the first quarter worth $30,000. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in shares of PayPal by 65.8% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 185 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PayPal

In other 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 completion of the transaction, the director now owns 13,976 shares of the company’s stock, valued at $861,620.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on PYPL shares. New Street Research began coverage on PayPal in a research note on Friday, May 31st. They issued a “buy” rating and a $80.00 price target on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $78.00 target price on shares of PayPal in a research note on Thursday, July 11th. TD Cowen raised their price target on shares of PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Macquarie boosted their price objective on shares of PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Monness Crespi & Hardt increased their target price on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Seventeen investment 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.com, PayPal currently has an average rating of “Moderate Buy” and a consensus target price of $75.25.

PayPal Price Performance

PYPL stock traded up $1.47 during mid-day trading on Monday, hitting $69.43. The stock had a trading volume of 9,571,486 shares, compared to its average volume of 14,455,230. The firm has a fifty day simple moving average of $61.27 and a 200 day simple moving average of $62.42. The firm has a market capitalization of $70.98 billion, a P/E ratio of 17.49, a P/E/G ratio of 0.94 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. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $70.66.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 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 business 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 business earned $0.83 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. As a group, research analysts forecast 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.