PayPal Holdings, Inc. (NASDAQ:PYPL) Stake Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,968,852 shares of the credit services provider’s stock after selling 341,539 shares during the period. Bank of New York Mellon Corp’s holdings in PayPal were worth $404,402,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. boosted its position in shares of PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $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 worth about $27,000. Private Wealth Management Group LLC purchased a new position in shares of PayPal in the fourth quarter worth approximately $29,000. Family Firm Inc. acquired a new stake in shares of PayPal during the second quarter valued at approximately $29,000. Finally, Register Financial Advisors LLC purchased a new stake in shares of PayPal in the 1st quarter valued at approximately $30,000. 68.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on PYPL. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research report on Tuesday, April 30th. Evercore ISI lifted their price target on PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. William Blair raised PayPal to a “hold” rating in a research note on Tuesday, July 30th. Mizuho reaffirmed an “outperform” rating and set a $90.00 target price on shares of PayPal in a research note on Tuesday, August 20th. Finally, Macquarie increased their price target 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. Seventeen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.56.

PayPal Stock Performance

PYPL opened at $72.04 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $62.23 and its two-hundred day moving average price is $62.78. The firm has a market capitalization of $75.36 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 0.97 and a beta of 1.42. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $73.25.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.20. The business had revenue of $7.89 billion for 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% on a year-over-year basis. During the same quarter last year, the company posted $0.83 earnings per share. On average, equities analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current 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.