PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by First Foundation Advisors

First Foundation Advisors trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 22.9% during the second quarter, HoldingsChannel.com reports. The firm owned 1,696 shares of the credit services provider’s stock after selling 504 shares during the period. First Foundation Advisors’ holdings in PayPal were worth $98,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of PayPal during the 4th quarter valued at approximately $749,561,000. Clearbridge Investments LLC raised its position in shares of PayPal by 15.8% during the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after acquiring an additional 904,804 shares in the last quarter. First Trust Advisors LP raised its position in shares of PayPal by 1.7% during the 4th quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock valued at $225,283,000 after acquiring an additional 61,384 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of PayPal by 5.1% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock valued at $176,789,000 after acquiring an additional 146,643 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of PayPal by 11.9% during the 4th quarter. Hsbc Holdings PLC now owns 2,891,840 shares of the credit services provider’s stock valued at $177,541,000 after acquiring an additional 306,613 shares in the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PYPL shares. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and upped their price target for the company from $68.00 to $72.00 in a research report on Friday, August 9th. Canaccord Genuity Group restated a “buy” rating and set a $80.00 price objective on shares of PayPal in a research note on Wednesday, July 31st. Macquarie upped their price objective on PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. BMO Capital Markets upped their price objective on PayPal from $65.00 to $72.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI upped their price objective on PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Eighteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.56.

PayPal Trading Down 0.7 %

Shares of NASDAQ PYPL opened at $68.85 on Wednesday. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $74.40. The company has a market cap of $70.39 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 0.98 and a beta of 1.43. 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 business has a fifty day simple moving average of $64.93 and a 200-day simple moving average of $63.74.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same period in the prior year, the business posted $0.83 earnings per share. PayPal’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts predict that PayPal Holdings, Inc. will post 4.42 EPS for the current 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.