Equitable Holdings Inc. Acquires 2,077 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Equitable Holdings Inc. boosted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 37,514 shares of the credit services provider’s stock after buying an additional 2,077 shares during the period. Equitable Holdings Inc.’s holdings in PayPal were worth $10,935,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Permanens Capital L.P. bought a new stake in PayPal during the first quarter valued at $27,000. Sawyer & Company Inc raised its position in PayPal by 566.7% during the second quarter. Sawyer & Company Inc now owns 100 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 85 shares in the last quarter. JTC Employer Solutions Trusteee Ltd purchased a new stake in PayPal during the second quarter valued at about $38,000. Rocky Mountain Advisers LLC raised its position in PayPal by 218.4% during the second quarter. Rocky Mountain Advisers LLC now owns 156 shares of the credit services provider’s stock valued at $45,000 after purchasing an additional 107 shares in the last quarter. Finally, Baldrige Asset Management LLC purchased a new stake in PayPal during the second quarter valued at about $47,000. 79.05% of the stock is owned by institutional investors.

A number of equities research analysts have weighed in on PYPL shares. Raymond James lowered their price target on PayPal from $345.00 to $340.00 and set an “outperform” rating on the stock in a research report on Thursday, July 29th. Barclays lifted their price objective on PayPal from $318.00 to $343.00 and gave the stock an “overweight” rating in a report on Thursday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $360.00 price objective (up previously from $310.00) on shares of PayPal in a report on Thursday, July 8th. Piper Sandler lifted their price objective on PayPal from $300.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, July 29th. Finally, Oppenheimer lifted their price objective on PayPal from $322.00 to $342.00 and gave the stock an “outperform” rating in a report on Friday, July 9th. Four research analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the stock. According to data from MarketBeat, PayPal currently has an average rating of “Buy” and a consensus price target of $317.74.

In other PayPal news, EVP Mark Britto sold 9,000 shares of the stock in a transaction dated Friday, July 30th. The shares were sold at an average price of $279.15, for a total transaction of $2,512,350.00. Following the completion of the transaction, the executive vice president now owns 122,583 shares of the company’s stock, valued at approximately $34,219,044.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel H. Schulman sold 10,000 shares of the stock in a transaction dated Friday, July 30th. The shares were sold at an average price of $276.81, for a total transaction of $2,768,100.00. Following the completion of the transaction, the chief executive officer now directly owns 245,770 shares of the company’s stock, valued at approximately $68,031,593.70. The disclosure for this sale can be found here. Insiders have sold a total of 41,314 shares of company stock valued at $11,463,923 in the last three months. Insiders own 0.10% of the company’s stock.

PayPal stock traded down $6.79 during mid-day trading on Monday, hitting $269.55. The stock had a trading volume of 216,271 shares, compared to its average volume of 7,537,863. The firm has a market capitalization of $316.73 billion, a P/E ratio of 65.77, a P/E/G ratio of 3.75 and a beta of 1.15. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $285.19 and its 200 day moving average is $269.70. PayPal Holdings, Inc. has a one year low of $171.63 and a one year high of $310.16.

PayPal (NASDAQ:PYPL) last issued its earnings results on Wednesday, July 28th. The credit services provider reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.31. PayPal had a net margin of 20.42% and a return on equity of 20.07%. The company had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.32 billion. During the same quarter in the prior year, the firm posted $1.07 EPS. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 3.48 earnings per share for the current year.

PayPal Company Profile

PayPal Holdings, Inc engages in the development of technology platform for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The firm manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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