PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,661 shares of the credit services provider’s stock after selling 646 shares during the period. Summit Trail Advisors LLC’s holdings in PayPal were worth $561,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PYPL. Fiduciary Alliance LLC boosted its stake in shares of PayPal by 604.7% in the 1st quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock valued at $3,452,000 after buying an additional 45,544 shares during the period. 1832 Asset Management L.P. grew its holdings in PayPal by 44.6% during the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after acquiring an additional 381 shares in the last quarter. Blue Trust Inc. increased its position in shares of PayPal by 21.2% in the 2nd quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock valued at $195,000 after purchasing an additional 588 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of PayPal by 18.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock valued at $15,686,000 after purchasing an additional 36,994 shares during the last quarter. Finally, Brown Shipley& Co Ltd raised its holdings in shares of PayPal by 6.0% in the 4th quarter. Brown Shipley& Co Ltd now owns 51,372 shares of the credit services provider’s stock valued at $3,155,000 after purchasing an additional 2,919 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on PYPL shares. Evercore ISI raised their price target on PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Citigroup boosted their target price on PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Wells Fargo & Company increased their price target on shares of PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. BMO Capital Markets boosted their price objective on shares of PayPal from $65.00 to $72.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $78.00 target price on shares of PayPal in a research report on Wednesday, September 18th. Seventeen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus target price of $75.58.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $76.76 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $78.25. The company’s fifty day moving average is $67.01 and its two-hundred day moving average is $64.46. The firm has a market capitalization of $80.29 billion, a P/E ratio of 19.34, a PEG ratio of 1.01 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.83 EPS. Analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

PayPal Company 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.