Mackenzie Financial Corp Reduces Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Mackenzie Financial Corp reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 15.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 282,655 shares of the credit services provider’s stock after selling 52,409 shares during the quarter. Mackenzie Financial Corp’s holdings in PayPal were worth $16,402,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Pittenger & Anderson Inc. lifted its position 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 worth $26,000 after purchasing an additional 172 shares during the last quarter. American National Bank bought a new position in PayPal in the first quarter worth approximately $27,000. Family Firm Inc. bought a new stake in PayPal during the 2nd quarter valued at $29,000. SYSTM Wealth Solutions LLC lifted its holdings in shares of PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares during the period. Finally, Register Financial Advisors LLC bought a new position in shares of PayPal during the 1st quarter worth $30,000. Institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

PYPL has been the topic of a number of research reports. Mizuho reissued an “outperform” rating and set a $90.00 target price on shares of PayPal in a research report on Tuesday, August 20th. The Goldman Sachs Group restated a “neutral” rating and issued a $69.00 target price on shares of PayPal in a research note on Thursday, September 19th. Macquarie upped 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. Barclays increased their price objective on shares of PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday. Finally, StockNews.com downgraded shares of PayPal from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Seventeen analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.38.

PayPal Stock Down 2.7 %

PayPal stock opened at $77.88 on Monday. 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 stock has a market capitalization of $79.62 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The business has a 50 day simple moving average of $68.78 and a 200-day simple moving average of $65.11. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $80.63.

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