Whitener Capital Management Inc. lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 9.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,930 shares of the credit services provider’s stock after selling 395 shares during the quarter. Whitener Capital Management Inc.’s holdings in PayPal were worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently modified their holdings of PYPL. Beacon Capital Management LLC increased its position in shares of PayPal by 108.7% during the second quarter. Beacon Capital Management LLC now owns 384 shares of the credit services provider’s stock valued at $26,000 after buying an additional 200 shares during the period. Resurgent Financial Advisors LLC purchased a new stake in PayPal in the fourth quarter worth about $29,000. Lauer Wealth LLC purchased a new stake in PayPal in the first quarter worth about $31,000. Dakota Community Bank & Trust NA grew its holdings in PayPal by 168.8% in the first quarter. Dakota Community Bank & Trust NA now owns 422 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 265 shares during the period. Finally, ZRC Wealth Management LLC purchased a new stake in PayPal in the first quarter worth about $32,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on PYPL shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PayPal from $100.00 to $80.00 in a research note on Friday, June 9th. Sanford C. Bernstein dropped their target price on shares of PayPal from $85.00 to $70.00 in a research note on Monday, May 22nd. Credit Suisse Group restated a “neutral” rating and set a $80.00 price objective on shares of PayPal in a research report on Monday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of PayPal from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, August 22nd. Finally, BTIG Research increased their price objective on shares of PayPal from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.48.
PayPal Price Performance
PYPL traded down $0.81 during trading on Tuesday, hitting $62.13. 5,690,804 shares of the company traded hands, compared to its average volume of 15,266,159. The company has a market cap of $68.22 billion, a PE ratio of 17.20, a P/E/G ratio of 0.97 and a beta of 1.34. The stock’s 50-day simple moving average is $66.04 and its two-hundred day simple moving average is $68.34. PayPal Holdings, Inc. has a 1 year low of $57.29 and a 1 year high of $95.64. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.54.
PayPal (NASDAQ:PYPL – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The credit services provider reported $1.16 earnings per share for the quarter, meeting the consensus estimate of $1.16. The company had revenue of $7.29 billion during the quarter, compared to analysts’ expectations of $7.27 billion. PayPal had a net margin of 14.27% and a return on equity of 20.31%. PayPal’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $0.65 earnings per share. As a group, sell-side analysts anticipate that PayPal Holdings, Inc. will post 3.81 earnings per share for the current fiscal year.
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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