Newbridge Financial Services Group Inc. boosted its stake in PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) by 18.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,477 shares of the credit services provider’s stock after acquiring an additional 998 shares during the period. Newbridge Financial Services Group Inc.’s holdings in PayPal were worth $452,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Joel Isaacson & Co. LLC boosted its position in shares of PayPal by 165.2% during the second quarter. Joel Isaacson & Co. LLC now owns 7,993 shares of the credit services provider’s stock worth $558,000 after buying an additional 4,979 shares during the period. HB Wealth Management LLC raised its holdings in PayPal by 29.4% during the second quarter. HB Wealth Management LLC now owns 9,539 shares of the credit services provider’s stock worth $666,000 after purchasing an additional 2,169 shares in the last quarter. Matrix Asset Advisors Inc. NY raised its holdings in PayPal by 134.0% during the second quarter. Matrix Asset Advisors Inc. NY now owns 175,052 shares of the credit services provider’s stock worth $12,226,000 after purchasing an additional 100,240 shares in the last quarter. Ritholtz Wealth Management increased its holdings in shares of PayPal by 28.3% in the second quarter. Ritholtz Wealth Management now owns 7,598 shares of the credit services provider’s stock valued at $531,000 after buying an additional 1,674 shares in the last quarter. Finally, Miracle Mile Advisors LLC increased its holdings in shares of PayPal by 152.7% in the second quarter. Miracle Mile Advisors LLC now owns 88,909 shares of the credit services provider’s stock valued at $6,209,000 after buying an additional 53,719 shares in the last quarter. 70.67% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on PayPal from $127.00 to $112.00 in a report on Wednesday, July 20th. DA Davidson dropped their price target on shares of PayPal to $120.00 in a research note on Tuesday, August 9th. Morgan Stanley upped their price target on PayPal from $129.00 to $134.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 3rd. Bank of America raised PayPal from a “neutral” rating to a “buy” rating and raised their price objective for the company from $94.00 to $114.00 in a research note on Wednesday, August 31st. Finally, Sumitomo Mitsui Financial Group raised PayPal from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $90.00 to $100.00 in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and thirty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.23.
PayPal Stock Down 1.5 %
PayPal stock traded down $1.30 during mid-day trading on Friday, reaching $86.36. The stock had a trading volume of 380,455 shares, compared to its average volume of 11,510,406. The company has a market capitalization of $99.87 billion, a price-to-earnings ratio of 49.97, a PEG ratio of 1.95 and a beta of 1.45. The company has a 50-day moving average price of $91.86 and a two-hundred day moving average price of $90.61. PayPal Holdings, Inc. has a one year low of $67.58 and a one year high of $279.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.23 and a quick ratio of 1.23.
PayPal (NASDAQ:PYPL – Get Rating) last posted its earnings results on Tuesday, August 2nd. The credit services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.11. PayPal had a net margin of 7.79% and a return on equity of 16.79%. The business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.76 billion. On average, analysts expect that PayPal Holdings, Inc. will post 2.89 EPS for the current fiscal year.
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company's payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 100 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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