PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,246 shares of the credit services provider’s stock after selling 456 shares during the period. Acadian Asset Management LLC’s holdings in PayPal were worth $2,392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Pittenger & Anderson Inc. lifted its stake in 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 in the last quarter. American National Bank acquired a new position in PayPal during the 1st quarter worth about $27,000. Private Wealth Management Group LLC acquired a new position in PayPal during the 4th quarter worth about $29,000. Family Firm Inc. acquired a new position in PayPal during the 2nd quarter worth about $29,000. Finally, Register Financial Advisors LLC acquired a new position in PayPal during the 1st quarter worth about $30,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PYPL shares. William Blair raised PayPal to a “hold” rating in a research note on Tuesday, July 30th. TD Cowen increased their target price on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and increased their price target for the company from $68.00 to $72.00 in a research report on Friday, August 9th. Jefferies Financial Group reduced their price target on PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Finally, Sanford C. Bernstein raised PayPal from a “market perform” rating to an “outperform” rating and increased their price target for the company from $71.00 to $78.00 in a research report on Wednesday, July 31st. Eighteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus target price of $75.56.

PayPal Trading Down 0.4 %

Shares of PYPL stock opened at $70.10 on Friday. The business’s 50 day moving average is $65.55 and its two-hundred day moving average is $63.90. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $74.40. The company has a market capitalization of $71.67 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 0.99 and a beta of 1.43. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $7.82 billion. During the same period last year, the business posted $0.83 EPS. The company’s revenue was up 8.2% on a year-over-year basis. Equities analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

About PayPal

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.