PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Purchased by Parcion Private Wealth LLC

Parcion Private Wealth LLC increased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,520 shares of the credit services provider’s stock after purchasing an additional 520 shares during the period. Parcion Private Wealth LLC’s holdings in PayPal were worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in PayPal by 11.1% in the fourth quarter. International Assets Investment Management LLC now owns 10,716 shares of the credit services provider’s stock valued at $658,000 after acquiring an additional 1,073 shares during the period. Gryphon Financial Partners LLC lifted its holdings in PayPal by 36.2% in the fourth quarter. Gryphon Financial Partners LLC now owns 9,659 shares of the credit services provider’s stock valued at $593,000 after acquiring an additional 2,569 shares during the period. Wealthspire Advisors LLC lifted its holdings in PayPal by 1.3% in the fourth quarter. Wealthspire Advisors LLC now owns 15,551 shares of the credit services provider’s stock valued at $955,000 after acquiring an additional 206 shares during the period. Principal Securities Inc. acquired a new stake in PayPal in the fourth quarter valued at $418,000. Finally, Lebenthal Global Advisors LLC acquired a new stake in PayPal in the fourth quarter valued at $299,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Macquarie raised their target price on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Citigroup lifted their price target on PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $69.00 price target on shares of PayPal in a research note on Monday, June 24th. StockNews.com downgraded PayPal from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Finally, New Street Research assumed coverage on PayPal in a research note on Friday, May 31st. They set a “buy” rating and a $80.00 price target for the company. Eighteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.56.

PayPal Trading Down 4.4 %

Shares of NASDAQ:PYPL traded down $3.14 during trading on Friday, reaching $68.89. 12,304,156 shares of the stock were exchanged, compared to its average volume of 14,207,560. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $74.40. The firm has a market cap of $70.43 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 1.03 and a beta of 1.43. The firm’s 50-day moving average price is $64.50 and its 200 day moving average price is $63.51.

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