Jacobs & Co. CA reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 83,198 shares of the credit services provider’s stock after selling 1,069 shares during the quarter. Jacobs & Co. CA’s holdings in PayPal were worth $5,551,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Moneta Group Investment Advisors LLC grew its holdings in PayPal by 110,462.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock valued at $1,220,431,000 after buying an additional 17,120,572 shares in the last quarter. Norges Bank bought a new stake in shares of PayPal during the 4th quarter valued at about $1,022,333,000. Alliancebernstein L.P. lifted its position in PayPal by 51.1% during the fourth quarter. Alliancebernstein L.P. now owns 17,133,910 shares of the credit services provider’s stock valued at $1,220,277,000 after purchasing an additional 5,794,620 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of PayPal in the 4th quarter worth $319,712,000. Finally, Clearbridge Investments LLC grew its position in PayPal by 122.0% in the first quarter. Clearbridge Investments LLC now owns 6,230,481 shares of the credit services provider’s stock worth $720,555,000 after acquiring an additional 3,424,122 shares in the last quarter. Institutional investors own 68.42% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 price target on shares of PayPal in a research note on Thursday, August 3rd. Moffett Nathanson reissued a “market perform” rating and set a $75.00 target price on shares of PayPal in a research note on Monday. Jefferies Financial Group raised their price target on PayPal from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Monday, July 24th. Oppenheimer reduced their price target on shares of PayPal from $89.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 3rd. Finally, Sanford C. Bernstein lowered their price objective on shares of PayPal from $85.00 to $70.00 in a report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.48.
PayPal Trading Down 1.2 %
Shares of NASDAQ PYPL opened at $63.44 on Monday. PayPal Holdings, Inc. has a 1-year low of $57.29 and a 1-year high of $95.64. The business has a fifty day moving average price of $66.04 and a 200 day moving average price of $68.34. The stock has a market capitalization of $69.66 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 0.97 and a beta of 1.34. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.30 and a quick ratio of 1.30.
PayPal (NASDAQ:PYPL – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The credit services provider reported $1.16 EPS for the quarter, hitting the consensus estimate of $1.16. PayPal had a net margin of 14.27% and a return on equity of 20.31%. The firm had revenue of $7.29 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the previous year, the business posted $0.65 EPS. PayPal’s revenue was up 7.1% on a year-over-year basis. Equities research analysts expect that PayPal Holdings, Inc. will post 3.81 EPS for the current fiscal year.
PayPal Company Profile
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.
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