Flagship Harbor Advisors LLC Lowers Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Flagship Harbor Advisors LLC lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,297 shares of the credit services provider’s stock after selling 735 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in PayPal were worth $1,955,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PYPL. Mirae Asset Global Investments Co. Ltd. grew its position in PayPal by 12.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,246,996 shares of the credit services provider’s stock valued at $144,215,000 after buying an additional 138,875 shares during the period. Dakota Wealth Management grew its position in PayPal by 8.6% during the first quarter. Dakota Wealth Management now owns 4,894 shares of the credit services provider’s stock valued at $566,000 after buying an additional 387 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in PayPal by 15.4% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,860 shares of the credit services provider’s stock valued at $793,000 after buying an additional 918 shares during the period. Covestor Ltd boosted its position in PayPal by 136.1% during the first quarter. Covestor Ltd now owns 1,334 shares of the credit services provider’s stock worth $154,000 after purchasing an additional 769 shares during the period. Finally, Donaldson Capital Management LLC increased its stake in shares of PayPal by 5.3% in the first quarter. Donaldson Capital Management LLC now owns 3,095 shares of the credit services provider’s stock worth $358,000 after purchasing an additional 155 shares in the last quarter. Institutional investors own 68.42% of the company’s stock.

Wall Street Analyst Weigh In

PYPL has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of PayPal from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 22nd. Credit Suisse Group reiterated a “neutral” rating and issued a $80.00 target price on shares of PayPal in a research note on Monday, July 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 target price on shares of PayPal in a research note on Thursday, August 3rd. Piper Sandler reduced their target price on shares of PayPal from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, August 3rd. Finally, BTIG Research lifted their target price on shares of PayPal from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and a consensus target price of $92.03.

PayPal Trading Down 0.4 %

Shares of PYPL opened at $64.21 on Monday. The firm has a market cap of $70.51 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 0.97 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. PayPal Holdings, Inc. has a fifty-two week low of $57.29 and a fifty-two week high of $95.64. The firm has a 50 day moving average price of $66.04 and a 200-day moving average price of $68.34.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data 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 firm 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 3.81 earnings per share for the current 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.