PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lowered its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 12.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,525 shares of the credit services provider’s stock after selling 2,742 shares during the period. Cullen Frost Bankers Inc.’s holdings in PayPal were worth $1,075,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on PYPL. Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. Daiwa America upgraded PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. increased their target price on PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Macquarie lifted their price target on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Mizuho reiterated an “outperform” rating and set a $90.00 price objective on shares of PayPal in a report on Tuesday, August 20th. Eighteen 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $75.56.

PayPal Stock Performance

PayPal stock opened at $68.89 on Monday. 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 firm’s fifty day moving average price is $64.50 and its 200 day moving average price is $63.59. The company has a market capitalization of $70.43 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 0.98 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.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The business 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 company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 earnings per share. On average, research analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS 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.