Tompkins Financial Corp Reduces Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Tompkins Financial Corp decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 93.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,588 shares of the credit services provider’s stock after selling 48,030 shares during the quarter. Tompkins Financial Corp’s holdings in PayPal were worth $239,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. DoubleLine ETF Adviser LP acquired a new stake in shares of PayPal during the first quarter worth about $973,000. Pinnacle Financial Partners Inc. raised its holdings in shares of PayPal by 16.9% in the first 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 last quarter. Curated Wealth Partners LLC grew its holdings in shares of PayPal by 5.2% during the second quarter. Curated Wealth Partners LLC now owns 3,683 shares of the credit services provider’s stock worth $246,000 after buying an additional 182 shares during the last quarter. Brookstone Capital Management increased its position in 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 acquiring an additional 37,797 shares during the period. Finally, Albion Financial Group UT raised its stake 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 purchasing an additional 257 shares during the last quarter. 68.42% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Trading Down 2.0 %

PYPL traded down $1.25 on Tuesday, reaching $61.69. 3,422,584 shares of the company’s stock were exchanged, compared to its average volume of 15,251,161. PayPal Holdings, Inc. has a twelve month low of $57.29 and a twelve month high of $95.64. 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. The company has a market cap of $67.74 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 0.97 and a beta of 1.34.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PYPL shares. BTIG Research boosted their price objective on shares of PayPal from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Canaccord Genuity Group cut their price objective on PayPal from $160.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. Wedbush reissued an “outperform” rating and set a $85.00 price target on shares of PayPal in a research note on Thursday, August 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on PayPal from $100.00 to $80.00 in a research report on Friday, June 9th. Finally, Moffett Nathanson reissued a “market perform” rating and issued a $75.00 price objective on shares of PayPal in a research note on Monday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $91.48.

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.