Bridges Investment Management Inc. Cuts Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Bridges Investment Management Inc. decreased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 68.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 17,669 shares of the credit services provider’s stock after selling 38,021 shares during the quarter. Bridges Investment Management Inc.’s holdings in PayPal were worth $1,025,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. grew its position in shares of PayPal by 29.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 23,112 shares of the credit services provider’s stock worth $1,341,000 after buying an additional 5,251 shares during the last quarter. Intech Investment Management LLC boosted its stake in PayPal by 56.5% in the second quarter. Intech Investment Management LLC now owns 43,608 shares of the credit services provider’s stock valued at $2,531,000 after acquiring an additional 15,736 shares in the last quarter. WCG Wealth Advisors LLC purchased a new position in PayPal in the second quarter worth $702,000. MRP Capital Investments LLC increased its position in shares of PayPal by 1.4% during the second quarter. MRP Capital Investments LLC now owns 15,055 shares of the credit services provider’s stock worth $874,000 after purchasing an additional 210 shares in the last quarter. Finally, Middleton & Co. Inc. MA lifted its holdings in shares of PayPal by 1.8% during the 2nd quarter. Middleton & Co. Inc. MA now owns 70,651 shares of the credit services provider’s stock valued at $4,100,000 after purchasing an additional 1,243 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Macquarie boosted their target price on PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Daiwa America upgraded PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Sanford C. Bernstein raised shares of PayPal from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $71.00 to $78.00 in a research report on Wednesday, July 31st. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 target price on shares of PayPal in a research note on Wednesday, July 31st. Finally, StockNews.com lowered shares of PayPal from a “buy” rating to a “hold” rating in a research note on Thursday. Seventeen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.58.

PayPal Stock Down 1.0 %

PYPL stock opened at $76.76 on Friday. The firm’s fifty day moving average is $67.01 and its 200 day moving average is $64.38. The firm has a market cap of $78.47 billion, a PE ratio of 19.34, a P/E/G ratio of 1.01 and a beta of 1.43. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $78.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The firm 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%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.83 EPS. On average, research analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

PayPal Company 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.