Financial Advocates Investment Management decreased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) by 34.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,437 shares of the credit services provider’s stock after selling 5,391 shares during the period. Financial Advocates Investment Management’s holdings in PayPal were worth $729,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of PYPL. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of PayPal by 3.3% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 11,240 shares of the credit services provider’s stock valued at $787,000 after acquiring an additional 362 shares during the period. Greenleaf Trust lifted its holdings in PayPal by 2.7% in the second quarter. Greenleaf Trust now owns 189,666 shares of the credit services provider’s stock worth $13,246,000 after purchasing an additional 4,916 shares during the period. Prospector Partners LLC lifted its position in PayPal by 32.5% in the second quarter. Prospector Partners LLC now owns 44,050 shares of the credit services provider’s stock worth $3,076,000 after purchasing an additional 10,800 shares during the period. Roberts Glore & Co. Inc. IL grew its holdings in shares of PayPal by 18.9% during the second quarter. Roberts Glore & Co. Inc. IL now owns 11,656 shares of the credit services provider’s stock valued at $814,000 after buying an additional 1,852 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC purchased a new stake in shares of PayPal in the second quarter worth approximately $5,212,000. 70.67% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the stock. BMO Capital Markets reduced their target price on shares of PayPal from $137.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, November 7th. Citigroup cut their price objective on PayPal from $122.00 to $102.00 in a research note on Friday, November 4th. Morgan Stanley lifted their price target on shares of PayPal from $135.00 to $136.00 and gave the company an “overweight” rating in a research report on Friday, November 4th. Atlantic Securities lowered their price target on PayPal from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 12th. Finally, Sumitomo Mitsui Financial Group upgraded PayPal from an “underperform” rating to a “neutral” rating and increased their target price for the company from $90.00 to $100.00 in a research note on Wednesday, August 3rd. Thirteen equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $125.02.
PayPal Trading Up 1.1 %
PayPal (NASDAQ:PYPL – Get Rating) last released its earnings results on Thursday, November 3rd. The credit services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.17. The business had revenue of $6.85 billion for the quarter, compared to analysts’ expectations of $6.82 billion. PayPal had a net margin of 8.50% and a return on equity of 16.85%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. On average, sell-side analysts expect that PayPal Holdings, Inc. will post 3.1 earnings per share for the current fiscal year.
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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