PayPal Holdings, Inc. (NASDAQ:PYPL) Position Trimmed by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co lessened its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,629 shares of the credit services provider’s stock after selling 18,771 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in PayPal were worth $15,298,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Pittenger & Anderson Inc. grew 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 in the last quarter. Verity Asset Management Inc. grew its stake in shares of PayPal by 1.9% in the 1st quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock valued at $650,000 after buying an additional 181 shares in the last quarter. Indiana Trust & Investment Management CO grew its stake in shares of PayPal by 18.6% in the 1st quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock valued at $79,000 after buying an additional 184 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in shares of PayPal by 3.1% in the 2nd quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock valued at $358,000 after buying an additional 184 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in shares of 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 buying an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

PYPL has been the subject of several recent research reports. New Street Research initiated coverage on PayPal in a research note on Friday, May 31st. They issued a “buy” rating and a $80.00 price target for the company. Jefferies Financial Group decreased their target price on PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. JPMorgan Chase & Co. upped 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. Susquehanna upped their price target on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a report on Wednesday, July 31st. Finally, Evercore ISI upped their price target on PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Eighteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.56.

PayPal Price Performance

Shares of PYPL stock opened at $68.89 on Monday. The stock’s fifty day moving average is $64.50 and its 200-day moving average is $63.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $70.43 billion, a PE ratio of 17.35, a PEG ratio of 0.98 and a beta of 1.43. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $74.40.

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 the consensus estimate of $0.99 by $0.20. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.83 earnings per share. Equities research analysts expect that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

PayPal 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.