Parcion Private Wealth LLC Raises Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Parcion Private Wealth LLC increased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,520 shares of the credit services provider’s stock after acquiring an additional 520 shares during the quarter. Parcion Private Wealth LLC’s holdings in PayPal were worth $262,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PYPL. Pittenger & Anderson Inc. boosted 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 worth $26,000 after purchasing an additional 172 shares during the last quarter. American National Bank acquired a new stake in PayPal during the 1st quarter worth $27,000. Private Wealth Management Group LLC acquired a new stake in PayPal during the 4th quarter worth $29,000. Family Firm Inc. acquired a new stake in PayPal during the 2nd quarter worth $29,000. Finally, Register Financial Advisors LLC acquired a new stake in PayPal during the 1st quarter worth $30,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Stock Down 4.4 %

PYPL traded down $3.14 on Friday, reaching $68.89. The company’s stock had a trading volume of 12,304,156 shares, compared to its average volume of 14,207,560. The company has a market capitalization of $70.43 billion, a price-to-earnings ratio of 17.35, a P/E/G ratio of 1.03 and a beta of 1.43. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $74.40. The stock has a 50 day moving average of $64.50 and a two-hundred day moving average of $63.51. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last posted 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. The business had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.83 earnings per share. As a group, analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PYPL shares. Robert W. Baird lifted their target price on shares of PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $68.00 to $72.00 in a research report on Friday, August 9th. Jefferies Financial Group lowered their price target on shares of PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Macquarie boosted their price target on shares of PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Sanford C. Bernstein raised shares of PayPal from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $71.00 to $78.00 in a research report on Wednesday, July 31st. Eighteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, PayPal has an average rating of “Moderate Buy” and an average price target of $75.56.

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.