Elo Mutual Pension Insurance Co Trims Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Elo Mutual Pension Insurance Co reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,759 shares of the credit services provider’s stock after selling 1,827 shares during the period. Elo Mutual Pension Insurance Co’s holdings in PayPal were worth $5,325,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Pittenger & Anderson Inc. lifted its holdings in shares of PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. American National Bank purchased a new position in PayPal during the first quarter valued at $27,000. Family Firm Inc. bought a new stake in PayPal in the second quarter worth $29,000. SYSTM Wealth Solutions LLC grew its stake in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new position in shares of PayPal during the first quarter valued at $30,000. Institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $73.12 on Thursday. The company has a market capitalization of $76.49 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.00 and a beta of 1.43. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $74.40. The firm’s 50 day simple moving average is $66.33 and its two-hundred day simple moving average is $64.17. 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 (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter in the previous year, the company earned $0.83 EPS. PayPal’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts expect that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PYPL shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $69.00 price target on shares of PayPal in a research note on Monday, June 24th. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 price target on shares of PayPal in a report on Wednesday, July 31st. New Street Research assumed coverage on shares of PayPal in a report on Friday, May 31st. They issued a “buy” rating and a $80.00 price objective for the company. Monness Crespi & Hardt increased their target price on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Argus upgraded PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Seventeen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $75.58.

PayPal 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.