New England Research & Management Inc. Sells 425 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

New England Research & Management Inc. cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,875 shares of the credit services provider’s stock after selling 425 shares during the period. New England Research & Management Inc.’s holdings in PayPal were worth $1,059,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. DoubleLine ETF Adviser LP acquired a new position in shares of PayPal during the first quarter worth approximately $973,000. Pinnacle Financial Partners Inc. increased its stake in shares of PayPal by 16.9% in the 1st quarter. Pinnacle Financial Partners Inc. now owns 95,208 shares of the credit services provider’s stock valued at $7,230,000 after buying an additional 13,762 shares during the period. Brookstone Capital Management increased its stake in shares of PayPal by 301.8% in the 1st quarter. Brookstone Capital Management now owns 50,319 shares of the credit services provider’s stock valued at $3,891,000 after buying an additional 37,797 shares during the period. Albion Financial Group UT raised its position in shares of PayPal by 4.6% during the first quarter. Albion Financial Group UT now owns 5,813 shares of the credit services provider’s stock worth $441,000 after acquiring an additional 257 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of PayPal by 60.5% during the first quarter. CIBC Private Wealth Group LLC now owns 107,586 shares of the credit services provider’s stock valued at $9,499,000 after acquiring an additional 40,553 shares during the period. 68.42% of the stock is currently owned by institutional investors.

PayPal Stock Up 1.3 %

PYPL traded up $0.82 on Thursday, hitting $63.66. 2,020,865 shares of the company were exchanged, compared to its average volume of 15,216,828. PayPal Holdings, Inc. has a 12 month low of $57.29 and a 12 month high of $98.98. The company has a market cap of $69.90 billion, a PE ratio of 17.82, a PEG ratio of 0.93 and a beta of 1.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.30 and a current ratio of 1.30. The stock’s fifty day moving average is $66.12 and its 200-day moving average is $68.51.

PayPal (NASDAQ:PYPL) last issued its earnings results on Wednesday, August 2nd. The credit services provider reported $1.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.16. The business had revenue of $7.29 billion for the quarter, compared to the consensus estimate of $7.27 billion. PayPal had a net margin of 14.27% and a return on equity of 20.31%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 earnings per share. Equities research analysts predict that PayPal Holdings, Inc. will post 3.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on PayPal from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, August 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $86.00 target price on shares of PayPal in a research note on Thursday, August 3rd. Canaccord Genuity Group reduced their target price on shares of PayPal from $160.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 3rd. Truist Financial increased their price target on PayPal from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $80.00 price target on shares of PayPal in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.03.

About PayPal

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.