L & S Advisors Inc cut its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 40.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,804 shares of the credit services provider’s stock after selling 21,601 shares during the quarter. L & S Advisors Inc’s holdings in Paypal were worth $3,640,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Paypal by 1.6% during the second quarter. BlackRock Inc. now owns 74,983,829 shares of the credit services provider’s stock valued at $8,582,649,000 after acquiring an additional 1,194,180 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Paypal by 1.5% during the second quarter. Nomura Asset Management Co. Ltd. now owns 455,279 shares of the credit services provider’s stock valued at $52,112,000 after acquiring an additional 6,931 shares during the last quarter. Qtron Investments LLC purchased a new stake in Paypal during the second quarter valued at $1,043,000. Bowen Hanes & Co. Inc. increased its position in Paypal by 1.3% during the second quarter. Bowen Hanes & Co. Inc. now owns 269,005 shares of the credit services provider’s stock valued at $30,790,000 after acquiring an additional 3,435 shares during the last quarter. Finally, InterOcean Capital LLC increased its position in Paypal by 4.5% during the second quarter. InterOcean Capital LLC now owns 4,680 shares of the credit services provider’s stock valued at $536,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 81.01% of the company’s stock.
A number of analysts recently commented on the company. Wedbush set a $140.00 price objective on Paypal and gave the company a “buy” rating in a research report on Friday, August 16th. Canaccord Genuity upgraded Paypal from a “hold” rating to a “buy” rating and upped their price objective for the company from $110.00 to $118.00 in a research report on Thursday. Morgan Stanley upped their price objective on Paypal from $114.00 to $129.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Jefferies Financial Group upped their price objective on Paypal from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Guggenheim upgraded Paypal from a “sell” rating to a “neutral” rating in a research report on Tuesday, August 13th. Eight equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $121.68.
Paypal stock traded down $0.84 during midday trading on Friday, reaching $106.26. 71,835 shares of the stock traded hands, compared to its average volume of 5,564,542. The stock’s fifty day moving average is $108.18 and its 200-day moving average is $109.01. Paypal Holdings Inc has a 12 month low of $74.66 and a 12 month high of $121.48. The stock has a market cap of $121.26 billion, a P/E ratio of 59.36, a PEG ratio of 2.38 and a beta of 0.98.
Paypal (NASDAQ:PYPL) last posted its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.12. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.33 billion. Paypal had a return on equity of 17.14% and a net margin of 15.36%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the company earned $0.58 EPS. As a group, research analysts predict that Paypal Holdings Inc will post 2.41 EPS for the current fiscal year.
PayPal Holdings, Inc operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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