Cigna Investments Inc. New Sells 769 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Cigna Investments Inc. New decreased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,642 shares of the credit services provider’s stock after selling 769 shares during the period. Cigna Investments Inc. New’s holdings in PayPal were worth $617,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PYPL. Pittenger & Anderson Inc. raised its position in PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the period. American National Bank bought a new stake in PayPal during the 1st quarter valued at $27,000. Private Wealth Management Group LLC bought a new stake in PayPal during the 4th quarter valued at $29,000. Register Financial Advisors LLC bought a new stake in PayPal during the 1st quarter valued at $30,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its position in PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after acquiring an additional 185 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Trading Up 2.7 %

NASDAQ PYPL traded up $1.80 on Thursday, reaching $67.94. The stock had a trading volume of 12,957,914 shares, compared to its average volume of 14,517,639. The firm has a market capitalization of $69.46 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 0.92 and a beta of 1.42. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $70.66. The stock has a fifty day moving average price of $61.19 and a two-hundred day moving average price of $62.30.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. The business had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 earnings per share. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $78.00 price objective on shares of PayPal in a report on Thursday, July 11th. Robert W. Baird raised their target price on PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. New Street Research initiated coverage on PayPal in a research note on Friday, May 31st. They issued a “buy” rating and a $80.00 target price for the company. Monness Crespi & Hardt lifted their price objective on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Mizuho upgraded PayPal from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $90.00 in a research note on Thursday, May 30th. Seventeen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.25.

Insiders Place Their Bets

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $61.65, for a total value of $272,616.30. Following the completion of the transaction, the director now owns 13,976 shares in the company, valued at $861,620.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

PayPal Company 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.