Thrive Wealth Management LLC reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 33.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,966 shares of the credit services provider’s stock after selling 1,991 shares during the quarter. Thrive Wealth Management LLC’s holdings in PayPal were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in PayPal by 1.3% during the first quarter. BlackRock Inc. now owns 77,214,661 shares of the credit services provider’s stock worth $5,863,681,000 after purchasing an additional 962,329 shares during the last quarter. State Street Corp grew its stake in PayPal by 2.7% in the 1st quarter. State Street Corp now owns 45,423,344 shares of the credit services provider’s stock valued at $3,449,434,000 after acquiring an additional 1,202,956 shares during the last quarter. Geode Capital Management LLC increased its holdings in PayPal by 1.1% during the 1st quarter. Geode Capital Management LLC now owns 20,947,345 shares of the credit services provider’s stock valued at $1,586,966,000 after acquiring an additional 235,651 shares in the last quarter. Morgan Stanley raised its position in PayPal by 12.0% during the fourth quarter. Morgan Stanley now owns 18,560,073 shares of the credit services provider’s stock worth $1,321,849,000 after acquiring an additional 1,995,271 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its holdings in shares of PayPal by 110,462.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock valued at $1,220,431,000 after purchasing an additional 17,120,572 shares in the last quarter. 68.42% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
PYPL has been the subject of several research reports. Truist Financial lifted their price objective on PayPal from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Barclays reduced their price objective on PayPal from $92.00 to $88.00 and set an “overweight” rating on the stock in a research report on Friday, August 4th. Mizuho reiterated a “buy” rating and set a $92.00 price objective on shares of PayPal in a research report on Friday. StockNews.com assumed coverage on shares of PayPal in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Morgan Stanley lowered their price target on shares of PayPal from $133.00 to $126.00 and set an “overweight” rating for the company in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.48.
PayPal Trading Down 2.0 %
Shares of PYPL opened at $62.94 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.30 and a quick ratio of 1.30. PayPal Holdings, Inc. has a 12 month low of $57.29 and a 12 month high of $95.64. The stock has a market cap of $69.11 billion, a PE ratio of 17.58, a P/E/G ratio of 0.97 and a beta of 1.34. The stock’s 50-day moving average is $66.04 and its two-hundred day moving average is $68.34.
PayPal (NASDAQ:PYPL – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The credit services provider reported $1.16 EPS for the quarter, hitting the consensus estimate of $1.16. The firm had revenue of $7.29 billion for the quarter, compared to analyst estimates of $7.27 billion. PayPal had a return on equity of 20.31% and a net margin of 14.27%. PayPal’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 EPS. Equities analysts forecast that PayPal Holdings, Inc. will post 3.81 earnings per share for the current fiscal year.
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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