PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 51.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 521,209 shares of the credit services provider’s stock after selling 555,762 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.05% of PayPal worth $30,246,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Pittenger & Anderson Inc. raised its stake in PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 172 shares during the last quarter. American National Bank purchased a new stake in shares of PayPal in the first quarter valued at about $27,000. Register Financial Advisors LLC acquired a new stake in PayPal during the 1st quarter valued at $30,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in PayPal by 65.8% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 185 shares in the last quarter. Finally, Private Wealth Management Group LLC purchased a new stake in PayPal in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

PYPL stock traded down $3.14 during mid-day trading on Friday, reaching $68.89. 12,304,156 shares of the company’s stock were exchanged, compared to its average volume of 14,207,560. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $70.43 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 1.03 and a beta of 1.43. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $74.40. The stock’s 50 day moving average is $64.50 and its 200 day moving average is $63.51.

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

Analyst Upgrades and Downgrades

PYPL has been the subject of several research analyst reports. Mizuho restated an “outperform” rating and set a $90.00 price target on shares of PayPal in a research note on Tuesday, August 20th. UBS Group increased their price objective on shares of PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their price target on PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. The Goldman Sachs Group restated a “neutral” rating and issued a $69.00 target price on shares of PayPal in a research note on Monday, June 24th. Finally, Susquehanna lifted their price objective on shares of PayPal from $71.00 to $83.00 and gave the company a “positive” rating in a research report on Wednesday, July 31st. Eighteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and an average price target of $75.56.

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.