Birch Capital Management LLC decreased its position in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 57.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 990 shares of the credit services provider’s stock after selling 1,355 shares during the quarter. Birch Capital Management LLC’s holdings in PayPal were worth $66,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC bought a new position in shares of PayPal during the fourth quarter worth approximately $29,000. Lauer Wealth LLC acquired a new stake in PayPal during the first quarter worth about $31,000. Dakota Community Bank & Trust NA increased its holdings in PayPal by 168.8% in the 1st quarter. Dakota Community Bank & Trust NA now owns 422 shares of the credit services provider’s stock valued at $32,000 after buying an additional 265 shares during the period. ZRC Wealth Management LLC bought a new stake in shares of PayPal during the 1st quarter worth approximately $32,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of PayPal during the 4th quarter worth approximately $33,000. 68.42% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
PYPL has been the subject of several recent analyst reports. Sanford C. Bernstein dropped their price objective on PayPal from $85.00 to $70.00 in a research report on Monday, May 22nd. Barclays dropped their target price on shares of PayPal from $92.00 to $88.00 and set an “overweight” rating for the company in a report on Friday, August 4th. Oppenheimer decreased their price target on shares of PayPal from $89.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 3rd. Wedbush restated an “outperform” rating and issued a $85.00 target price on shares of PayPal in a research report on Thursday, August 3rd. Finally, Morgan Stanley dropped their price target on PayPal from $133.00 to $126.00 and set an “overweight” rating for the company in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $91.48.
PayPal Price Performance
Shares of NASDAQ:PYPL opened at $62.94 on Tuesday. The company has a market capitalization of $69.11 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 0.97 and a beta of 1.34. The company’s 50-day moving average is $66.04 and its 200 day moving average is $68.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.30 and a current ratio of 1.30. PayPal Holdings, Inc. has a fifty-two week low of $57.29 and a fifty-two week high of $95.64.
PayPal (NASDAQ:PYPL – Get Free Report) last released its earnings results on Wednesday, August 2nd. The credit services provider reported $1.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.16. The firm had revenue of $7.29 billion for the quarter, compared to analysts’ expectations of $7.27 billion. PayPal had a net margin of 14.27% and a return on equity of 20.31%. The company’s quarterly revenue 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. On average, equities research analysts forecast that PayPal Holdings, Inc. will post 3.81 earnings per share for the current year.
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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