Mutual of America Capital Management LLC Sells 8,600 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Mutual of America Capital Management LLC lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 131,916 shares of the credit services provider’s stock after selling 8,600 shares during the quarter. Mutual of America Capital Management LLC’s holdings in PayPal were worth $7,655,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PYPL. Pittenger & Anderson Inc. increased its position 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 valued at $26,000 after purchasing an additional 172 shares during the last quarter. American National Bank bought a new position in shares of PayPal during the 1st quarter valued at approximately $27,000. Family Firm Inc. bought a new position in shares of PayPal during the 2nd quarter valued at approximately $29,000. Register Financial Advisors LLC bought a new position in PayPal in the 1st quarter valued at $30,000. Finally, Tortoise Investment Management LLC grew its position in PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after acquiring an additional 465 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. UBS Group upped their price objective on PayPal from $71.00 to $72.00 and gave the company a “neutral” 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $78.00 price objective on shares of PayPal in a research report on Wednesday. Macquarie upped their price objective on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, 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 research report on Friday, August 9th. Seventeen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.58.

PayPal Trading Up 6.1 %

Shares of NASDAQ:PYPL opened at $77.57 on Friday. The business’s 50-day moving average is $66.68 and its 200 day moving average is $64.26. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $78.25. The firm has a market capitalization of $81.14 billion, a P/E ratio of 19.54, a P/E/G ratio of 1.00 and a beta of 1.43. 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 announced its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) 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 analyst estimates of $7.82 billion. During the same period in the prior year, the company posted $0.83 EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, research analysts predict that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal 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.