Bank Pictet & Cie Europe AG Sells 3,691 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Bank Pictet & Cie Europe AG trimmed its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 48.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,985 shares of the credit services provider’s stock after selling 3,691 shares during the period. Bank Pictet & Cie Europe AG’s holdings in PayPal were worth $231,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PYPL. Pittenger & Anderson Inc. lifted its position in PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after buying an additional 172 shares during the last quarter. American National Bank bought a new stake in shares of PayPal in the 1st quarter worth about $27,000. Register Financial Advisors LLC purchased a new position in shares of PayPal during the 1st quarter worth about $30,000. CarsonAllaria Wealth Management Ltd. grew its holdings 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 purchasing an additional 185 shares during the last quarter. Finally, Private Wealth Management Group LLC purchased a new stake in PayPal in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PYPL shares. Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Susquehanna increased their target price on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein raised shares of PayPal from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $71.00 to $78.00 in a research note on Wednesday, July 31st. UBS Group raised their price target on shares of PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $84.00 price objective on shares of PayPal in a research report on Wednesday, July 31st. Seventeen 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.56.

PayPal Price Performance

Shares of PayPal stock traded up $0.18 on Friday, reaching $71.70. The company’s stock had a trading volume of 8,210,299 shares, compared to its average volume of 14,432,003. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $73.25. The company has a market capitalization of $73.30 billion, a P/E ratio of 18.06, a PEG ratio of 0.97 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. The stock has a 50-day moving average price of $62.00 and a 200-day moving average price of $62.67.

PayPal (NASDAQ:PYPL) last issued 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 company had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 EPS. Analysts expect that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

About PayPal

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.