Whittier Trust Co. of Nevada Inc. Has $252,000 Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Whittier Trust Co. of Nevada Inc. lessened its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 19.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,351 shares of the credit services provider’s stock after selling 1,059 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in PayPal were worth $252,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PYPL. HB Wealth Management LLC boosted its position in shares of PayPal by 27.1% during the 2nd quarter. HB Wealth Management LLC now owns 16,086 shares of the credit services provider’s stock valued at $933,000 after purchasing an additional 3,432 shares in the last quarter. 1834 Investment Advisors Co. purchased a new stake in shares of PayPal in the second quarter worth approximately $335,000. Checchi Capital Advisers LLC raised its stake in shares of PayPal by 3.1% in the second quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock worth $358,000 after purchasing an additional 184 shares during the last quarter. Skylands Capital LLC purchased a new stake in shares of PayPal in the second quarter worth approximately $174,000. Finally, ARK Investment Management LLC purchased a new stake in shares of PayPal in the second quarter worth approximately $8,264,000. Institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PYPL. Evercore ISI increased their price target on PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $69.00 price target on shares of PayPal in a research report on Monday, June 24th. JPMorgan Chase & Co. increased their price target on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. New Street Research initiated coverage on PayPal in a report on Friday, May 31st. They set a “buy” rating and a $80.00 price objective for the company. Finally, Susquehanna increased 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. Seventeen 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.56.

PayPal Price Performance

PayPal stock traded up $3.30 during mid-day trading on Thursday, hitting $73.73. The stock had a trading volume of 6,538,077 shares, compared to its average volume of 14,291,640. The firm has a market capitalization of $77.12 billion, a P/E ratio of 18.28, a P/E/G ratio of 0.97 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’s 50 day moving average is $62.71 and its 200 day moving average is $62.92. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $73.76.

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

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.