Americana Partners LLC Sells 7,960 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Americana Partners LLC reduced its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 54.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,560 shares of the credit services provider’s stock after selling 7,960 shares during the quarter. Americana Partners LLC’s holdings in PayPal were worth $381,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Pittenger & Anderson Inc. increased its holdings in PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares in the last quarter. American National Bank bought a new stake in PayPal in the first quarter worth approximately $27,000. Register Financial Advisors LLC acquired a new stake in PayPal in the first quarter valued at approximately $30,000. CarsonAllaria Wealth Management Ltd. grew its stake in PayPal by 65.8% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after acquiring an additional 185 shares during the period. Finally, Private Wealth Management Group LLC acquired a new stake in PayPal in the fourth quarter valued at approximately $29,000. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Performance

Shares of PYPL opened at $72.43 on Friday. 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 Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $73.93. The firm has a market cap of $74.05 billion, a PE ratio of 18.24, a PEG ratio of 1.03 and a beta of 1.42. The stock’s fifty day moving average price is $63.21 and its two-hundred day moving average price is $63.08.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same period in the previous year, the company posted $0.83 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on PYPL. TD Cowen lifted their target price on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Macquarie lifted their target price on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 target price on shares of PayPal in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 target price on shares of PayPal in a research report on Thursday, July 11th. Eighteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and an average price target of $75.56.

PayPal Company Profile

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.