PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. lessened its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 73.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 729 shares of the credit services provider’s stock after selling 1,983 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in PayPal were worth $42,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. SYSTM Wealth Solutions LLC grew its stake in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 167 shares in the last quarter. Pittenger & Anderson Inc. increased its holdings in shares of PayPal by 77.5% in 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. Verity Asset Management Inc. lifted its position in PayPal by 1.9% during the first quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock worth $650,000 after buying an additional 181 shares in the last quarter. Indiana Trust & Investment Management CO boosted its stake in PayPal by 18.6% during the first quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock worth $79,000 after buying an additional 184 shares during the last quarter. Finally, 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. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Trading Down 0.2 %

NASDAQ PYPL opened at $77.31 on Friday. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $80.63. The firm has a 50 day moving average of $70.27 and a two-hundred day moving average of $65.48. The stock has a market capitalization of $79.04 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last posted its quarterly 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. The company had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. PayPal’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.83 earnings per share. As a group, research analysts expect that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PYPL. Monness Crespi & Hardt lifted their price target on PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $84.00 price target on shares of PayPal in a research note on Wednesday, July 31st. Sanford C. Bernstein raised shares of PayPal from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $71.00 to $78.00 in a research report on Wednesday, July 31st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $69.00 price objective on shares of PayPal in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. upped their price target on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Seventeen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, PayPal has a consensus rating of “Moderate Buy” and an average target price of $76.41.

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.