PayPal Holdings, Inc. (NASDAQ:PYPL) Holdings Cut by Greenwich Wealth Management LLC

Greenwich Wealth Management LLC reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,429 shares of the credit services provider’s stock after selling 479 shares during the period. Greenwich Wealth Management LLC’s holdings in PayPal were worth $4,667,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PYPL. Pittenger & Anderson Inc. lifted its holdings in shares of 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 buying an additional 172 shares during the last quarter. American National Bank bought a new position in PayPal during the first quarter valued at approximately $27,000. Register Financial Advisors LLC acquired a new stake in PayPal in the first quarter valued at approximately $30,000. CarsonAllaria Wealth Management Ltd. grew its position in PayPal by 65.8% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 185 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in shares of PayPal during the 2nd quarter worth $29,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PYPL. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 price objective on shares of PayPal in a report on Thursday, July 11th. Monness Crespi & Hardt lifted their target price on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 29th. UBS Group upped their price target on shares of PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $84.00 price objective on shares of PayPal in a research note on Wednesday, July 31st. Eighteen research analysts have rated the stock with a hold rating, nineteen have issued 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 target price of $75.56.

PayPal Stock Down 0.4 %

NASDAQ PYPL opened at $70.10 on Monday. The stock has a fifty day moving average of $65.55 and a 200-day moving average of $63.95. 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 $71.67 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 0.99 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 for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the prior year, the business posted $0.83 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities research analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

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.