Moors & Cabot Inc. Has $862,000 Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Moors & Cabot Inc. cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,862 shares of the credit services provider’s stock after selling 826 shares during the period. Moors & Cabot Inc.’s holdings in PayPal were worth $862,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $69.00 price target on shares of PayPal in a research note on Monday, June 24th. Wells Fargo & Company increased their price target on PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Barclays lifted their price objective on PayPal from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $84.00 target price on shares of PayPal in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group decreased their target price on PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Seventeen research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.58.

PayPal Stock Up 1.9 %

PayPal stock opened at $73.12 on Thursday. The company has a fifty day simple moving average of $66.33 and a 200 day simple moving average of $64.17. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $74.40. The company has a market cap of $76.49 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 1.00 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share 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 company had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter last year, the company earned $0.83 EPS. PayPal’s revenue for the quarter was up 8.2% compared to the same quarter last year. Research analysts anticipate that PayPal Holdings, Inc. will post 4.42 earnings per share 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.