Colony Group LLC lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) by 35.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 19,123 shares of the credit services provider’s stock after selling 10,481 shares during the period. Colony Group LLC’s holdings in PayPal were worth $1,336,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Fox Run Management L.L.C. purchased a new position in PayPal during the first quarter worth about $213,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of PayPal by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,246,996 shares of the credit services provider’s stock worth $144,215,000 after purchasing an additional 138,875 shares during the period. Meeder Asset Management Inc. acquired a new stake in PayPal in the 1st quarter valued at approximately $1,161,000. Wealth Alliance raised its position in PayPal by 66.4% in the first quarter. Wealth Alliance now owns 7,549 shares of the credit services provider’s stock valued at $873,000 after purchasing an additional 3,011 shares during the period. Finally, Parametrica Management Ltd acquired a new position in PayPal during the first quarter worth $290,000. 70.67% of the stock is currently owned by hedge funds and other institutional investors.
PayPal Stock Up 0.3 %
Shares of NASDAQ:PYPL opened at $73.80 on Tuesday. The stock has a market cap of $84.13 billion, a P/E ratio of 37.46, a P/E/G ratio of 1.49 and a beta of 1.30. The firm has a fifty day moving average price of $82.57 and a 200 day moving average price of $84.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.27 and a quick ratio of 1.27. PayPal Holdings, Inc. has a 1-year low of $67.58 and a 1-year high of $196.10.
PayPal (NASDAQ:PYPL – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The credit services provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.17. PayPal had a net margin of 8.50% and a return on equity of 16.85%. The firm had revenue of $6.85 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the prior year, the business earned $0.90 EPS. PayPal’s quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts predict that PayPal Holdings, Inc. will post 3.14 EPS for the current year.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on PYPL shares. DA Davidson lowered their price target on PayPal from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, November 7th. Morgan Stanley raised their price target on PayPal from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday, November 4th. UBS Group lifted their price objective on shares of PayPal to $125.00 in a report on Monday. Atlantic Securities dropped their price objective on shares of PayPal from $120.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, October 12th. Finally, Susquehanna Bancshares cut shares of PayPal to a “neutral” rating and dropped their price objective for the company from $115.00 to $100.00 in a report on Tuesday, September 20th. Thirteen analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.65.
About PayPal
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company’s payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 100 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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