6,262 Shares in PayPal Holdings, Inc. (NASDAQ:PYPL) Acquired by Summit Financial LLC

Summit Financial LLC bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,262 shares of the credit services provider’s stock, valued at approximately $363,000.

A number of other institutional investors have also made changes to their positions in the business. Pittenger & Anderson Inc. increased its holdings in shares of PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares during the last quarter. Verity Asset Management Inc. grew its holdings in PayPal by 1.9% in the 1st quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock valued at $650,000 after buying an additional 181 shares in the last quarter. Indiana Trust & Investment Management CO grew its holdings in PayPal by 18.6% in the 1st quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock valued at $79,000 after buying an additional 184 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in PayPal by 3.1% in the 2nd quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock valued at $358,000 after buying an additional 184 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in PayPal by 65.8% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after buying an additional 185 shares in the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of research reports. Sanford C. Bernstein raised PayPal from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $71.00 to $78.00 in a report on Wednesday, July 31st. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $68.00 to $72.00 in a report on Friday, August 9th. Barclays upped their price objective on PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Evercore ISI upped their target price on PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Finally, Citigroup upped their target price on PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Eighteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and an average price target of $75.56.

PayPal Price Performance

Shares of PYPL opened at $72.00 on Wednesday. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $73.93. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $75.32 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 1.03 and a beta of 1.42. The business has a 50-day moving average of $63.73 and a 200-day moving average of $63.32.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $7.82 billion. During the same period last year, the company earned $0.83 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts anticipate that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

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.