Greenwich Wealth Management LLC Lowers Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Greenwich Wealth Management LLC lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,429 shares of the credit services provider’s stock after selling 479 shares during the period. Greenwich Wealth Management LLC’s holdings in PayPal were worth $4,667,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Pittenger & Anderson Inc. raised its holdings in shares of PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares during the period. Verity Asset Management Inc. increased its holdings in PayPal by 1.9% in the 1st quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock valued at $650,000 after purchasing an additional 181 shares in the last quarter. Indiana Trust & Investment Management CO raised its position in PayPal by 18.6% in the first quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock valued at $79,000 after purchasing an additional 184 shares during the period. Checchi Capital Advisers LLC lifted its stake in shares of PayPal by 3.1% during the second quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock worth $358,000 after purchasing an additional 184 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. boosted its position in shares of PayPal by 65.8% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after buying an additional 185 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PYPL. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 target price on shares of PayPal in a report on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and set a $84.00 target price on shares of PayPal in a research report on Wednesday, July 31st. StockNews.com lowered shares of PayPal from a “buy” rating to a “hold” rating in a report on Tuesday, September 10th. Sanford C. Bernstein upgraded shares of PayPal from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $71.00 to $78.00 in a report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $78.00 price objective on shares of PayPal in a research note on Thursday, July 11th. Eighteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $75.56.

PayPal Price Performance

NASDAQ PYPL opened at $70.10 on Monday. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $74.40. The stock’s 50-day moving average price is $65.55 and its two-hundred day moving average price is $63.95. The company has a market cap of $71.67 billion, a PE ratio of 17.66, a PEG ratio of 0.99 and a beta of 1.43. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47.

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

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.