Berger Financial Group Inc lessened its position in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 13.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,288 shares of the credit services provider’s stock after selling 830 shares during the quarter. Berger Financial Group Inc’s holdings in PayPal were worth $353,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the company. Impax Asset Management Group plc raised its holdings in shares of PayPal by 3.6% in the second quarter. Impax Asset Management Group plc now owns 33,128 shares of the credit services provider’s stock worth $2,211,000 after buying an additional 1,136 shares during the period. DoubleLine ETF Adviser LP bought a new position in shares of PayPal in the first quarter worth about $973,000. Investment House LLC lifted its holdings in PayPal by 10.8% during the 2nd quarter. Investment House LLC now owns 179,122 shares of the credit services provider’s stock valued at $11,953,000 after buying an additional 17,393 shares in the last quarter. Curated Wealth Partners LLC increased its position 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 acquiring an additional 182 shares during the period. Finally, Naviter Wealth LLC raised its stake in shares of PayPal by 6.7% during the second quarter. Naviter Wealth LLC now owns 6,276 shares of the credit services provider’s stock valued at $419,000 after acquiring an additional 394 shares in the last quarter. 68.42% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on PYPL shares. BTIG Research increased 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. Piper Sandler decreased their price objective on shares of PayPal from $67.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. Wedbush reaffirmed an “outperform” rating and issued a $85.00 price target on shares of PayPal in a report on Thursday, August 3rd. Monness Crespi & Hardt initiated coverage on shares of PayPal in a report on Monday, October 2nd. They set a “buy” rating and a $100.00 price objective on the stock. Finally, Morgan Stanley lowered their price target on PayPal from $126.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.77.
PayPal Stock Performance
NASDAQ PYPL opened at $57.73 on Thursday. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $88.63. The firm has a market capitalization of $62.24 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 0.87 and a beta of 1.38. The stock’s fifty day moving average is $57.13 and its two-hundred day moving average is $62.89. 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 (NASDAQ:PYPL – Get Free Report) last announced its quarterly earnings results on Wednesday, November 1st. The credit services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.08. PayPal had a net margin of 12.93% and a return on equity of 20.78%. The firm had revenue of $7.40 billion for the quarter, compared to analysts’ expectations of $7.39 billion. During the same quarter in the previous year, the company posted $0.87 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. On average, research analysts anticipate that PayPal Holdings, Inc. will post 3.84 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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