Cornerstone Advisors LLC Has $3.66 Million Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Cornerstone Advisors LLC trimmed its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,100 shares of the credit services provider’s stock after selling 4,900 shares during the period. Cornerstone Advisors LLC’s holdings in PayPal were worth $3,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Fiduciary Alliance LLC lifted its position in PayPal by 604.7% during the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock worth $3,452,000 after acquiring an additional 45,544 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of PayPal by 44.6% during 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. increased its holdings in shares of PayPal by 21.2% during the second 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 period. Allspring Global Investments Holdings LLC increased its holdings in shares of PayPal by 18.8% during the first 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 period. Finally, Brown Shipley& Co Ltd increased its holdings in shares of PayPal by 6.0% during the fourth quarter. Brown Shipley& Co Ltd now owns 51,372 shares of the credit services provider’s stock worth $3,155,000 after purchasing an additional 2,919 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Performance

NASDAQ PYPL opened at $71.07 on Tuesday. The company’s 50 day simple moving average is $65.79 and its two-hundred day simple moving average is $64.02. The stock has a market capitalization of $72.66 billion, a PE ratio of 17.90, a P/E/G ratio of 1.00 and a beta of 1.43. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $74.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24.

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

Analyst Ratings Changes

Several research analysts have recently commented on PYPL shares. UBS Group raised their target price on shares of PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. New Street Research assumed coverage on shares of PayPal in a research note on Friday, May 31st. They issued a “buy” rating and a $80.00 price objective on the stock. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Evercore ISI lifted their price objective on shares of PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Finally, Royal Bank of Canada reissued 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and a consensus target price 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.