IMS Capital Management Sells 1,300 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

IMS Capital Management reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 25.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,822 shares of the credit services provider’s stock after selling 1,300 shares during the period. IMS Capital Management’s holdings in PayPal were worth $222,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Primecap Management Co. CA grew its holdings in PayPal by 180.7% during the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after acquiring an additional 3,184,160 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of PayPal by 125.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after purchasing an additional 958,130 shares during the last quarter. Clearbridge Investments LLC raised its position in PayPal by 15.8% in the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock worth $445,103,000 after acquiring an additional 904,804 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in PayPal by 31.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock valued at $194,262,000 after purchasing an additional 687,940 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of PayPal during the 1st quarter worth $42,297,000. Institutional investors own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PYPL shares. BMO Capital Markets raised their price target on PayPal from $65.00 to $72.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Jefferies Financial Group reduced their target price on PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. The Goldman Sachs Group reissued a “neutral” rating and set a $69.00 price target on shares of PayPal in a research note on Thursday, September 19th. Barclays lifted their price objective on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Macquarie increased their price target on shares of PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Seventeen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.38.

PayPal Trading Up 0.2 %

PYPL stock opened at $78.03 on Tuesday. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $80.63. The stock has a market cap of $79.77 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 1.12 and a beta of 1.43. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The business’s 50-day moving average is $69.12 and its 200 day moving average is $65.21.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The firm 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%. PayPal’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 earnings per share. On average, sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

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.