Webster Bank N. A. reduced its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 12.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,366 shares of the credit services provider’s stock after selling 3,051 shares during the period. Webster Bank N. A.’s holdings in PayPal were worth $1,426,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Beacon Capital Management LLC lifted its stake in shares of PayPal by 108.7% in the 2nd quarter. Beacon Capital Management LLC now owns 384 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 200 shares during the period. Resurgent Financial Advisors LLC purchased a new stake in shares of PayPal during the 4th quarter worth about $29,000. Lauer Wealth LLC acquired a new stake in shares of PayPal during the 1st quarter valued at about $31,000. Dakota Community Bank & Trust NA increased its stake in shares of PayPal by 168.8% in the 1st quarter. Dakota Community Bank & Trust NA now owns 422 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 265 shares in the last quarter. Finally, ZRC Wealth Management LLC acquired a new position in PayPal in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have commented on the company. Oppenheimer cut their price objective on PayPal from $89.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 3rd. BTIG Research increased their price objective on shares of PayPal from $85.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. Sanford C. Bernstein lowered their price objective on PayPal from $85.00 to $70.00 in a report on Monday, May 22nd. JPMorgan Chase & Co. boosted their price objective on PayPal from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 22nd. Finally, Canaccord Genuity Group lowered their price target on PayPal from $160.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.48.
PayPal Trading Down 1.4 %
NASDAQ PYPL traded down $0.90 on Tuesday, reaching $62.04. The stock had a trading volume of 6,463,910 shares, compared to its average volume of 15,270,412. PayPal Holdings, Inc. has a 12-month low of $57.29 and a 12-month high of $95.64. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average price of $66.04 and a two-hundred day moving average price of $68.34. The firm has a market capitalization of $68.12 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 0.97 and a beta of 1.34.
PayPal (NASDAQ:PYPL – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The credit services provider reported $1.16 EPS for the quarter, meeting analysts’ consensus estimates of $1.16. The company had revenue of $7.29 billion during the quarter, compared to analysts’ expectations of $7.27 billion. PayPal had a return on equity of 20.31% and a net margin of 14.27%. PayPal’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 3.81 EPS for the current fiscal year.
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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