PayPal Holdings, Inc. (NASDAQ:PYPL) Holdings Cut by City State Bank

City State Bank cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,281 shares of the credit services provider’s stock after selling 200 shares during the quarter. City State Bank’s holdings in PayPal were worth $74,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PYPL. Bank & Trust Co acquired a new stake in shares of PayPal in the second quarter valued at approximately $80,000. Versant Capital Management Inc increased its position in PayPal by 105.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,093 shares of the credit services provider’s stock valued at $63,000 after acquiring an additional 561 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in PayPal during the 2nd quarter valued at $42,000. Institutional & Family Asset Management LLC boosted its position in PayPal by 166.8% during the 2nd quarter. Institutional & Family Asset Management LLC now owns 2,479 shares of the credit services provider’s stock worth $144,000 after acquiring an additional 1,550 shares during the period. Finally, Polianta Ltd bought a new position in shares of PayPal in the second quarter worth $980,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Up 3.8 %

PayPal stock traded up $2.29 during mid-day trading on Tuesday, hitting $62.75. 14,258,120 shares of the company’s stock were exchanged, compared to its average volume of 14,729,117. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $70.66. The stock has a 50 day moving average of $60.99 and a two-hundred day moving average of $62.25. The stock has a market cap of $64.15 billion, a P/E ratio of 15.91, a P/E/G ratio of 0.93 and a beta of 1.42. The company has a current ratio of 1.24, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $7.82 billion. During the same period last year, the business earned $0.83 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. As a group, analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Insider Buying and Selling at PayPal

In other news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the completion of the transaction, the director now directly owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PYPL. JMP Securities upped their price objective on shares of PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 1st. Monness Crespi & Hardt raised their price objective on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research note on Tuesday, April 30th. Sanford C. Bernstein upgraded shares of PayPal from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $71.00 to $78.00 in a research report on Wednesday, July 31st. Finally, UBS Group increased their target price on shares of PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Eighteen equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.94.

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.