Joel Isaacson & Co. LLC trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,319 shares of the credit services provider’s stock after selling 210 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in PayPal were worth $767,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of PYPL. Nuveen LLC bought a new stake in PayPal during the first quarter worth about $529,264,000. Goldman Sachs Group Inc. raised its stake in PayPal by 44.6% during the first quarter. Goldman Sachs Group Inc. now owns 8,559,376 shares of the credit services provider’s stock worth $558,499,000 after acquiring an additional 2,638,815 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in PayPal by 124.1% during the first quarter. Assenagon Asset Management S.A. now owns 3,497,415 shares of the credit services provider’s stock worth $228,206,000 after acquiring an additional 1,936,520 shares in the last quarter. Deutsche Bank AG increased its stake in shares of PayPal by 19.1% in the first quarter. Deutsche Bank AG now owns 11,238,218 shares of the credit services provider’s stock valued at $733,294,000 after buying an additional 1,798,330 shares during the period. Finally, Invesco Ltd. increased its stake in shares of PayPal by 14.9% in the first quarter. Invesco Ltd. now owns 9,516,070 shares of the credit services provider’s stock valued at $620,924,000 after buying an additional 1,232,155 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.
PayPal Price Performance
Shares of PYPL opened at $74.61 on Wednesday. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66. The business’s fifty day moving average is $68.60 and its 200 day moving average is $69.35. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.56. The stock has a market cap of $71.28 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.10 and a beta of 1.44.
Insider Buying and Selling
In related news, CAO Chris Natali sold 7,102 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $69.35, for a total value of $492,523.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Diego Scotti sold 3,838 shares of the firm’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $69.12, for a total value of $265,282.56. Following the transaction, the executive vice president owned 16,989 shares in the company, valued at approximately $1,174,279.68. This trade represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,102 shares of company stock worth $1,046,607 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.
Analyst Ratings Changes
A number of research firms have weighed in on PYPL. JMP Securities decreased their target price on shares of PayPal from $110.00 to $100.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 30th. Morgan Stanley restated a “positive” rating on shares of PayPal in a report on Wednesday, July 30th. Royal Bank Of Canada restated an “outperform” rating and set a $88.00 price target on shares of PayPal in a report on Thursday, June 26th. Macquarie restated an “outperform” rating and set a $95.00 price target on shares of PayPal in a report on Wednesday, July 30th. Finally, Piper Sandler set a $74.00 price target on PayPal in a report on Tuesday, July 29th. Seventeen investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $84.50.
Check Out Our Latest Analysis on PYPL
PayPal Profile
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.
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