Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $14.47 Million Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 23.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,062 shares of the credit services provider’s stock after selling 73,575 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in PayPal were worth $14,467,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Pittenger & Anderson Inc. lifted its holdings in PayPal by 77.5% during the 1st 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 last quarter. American National Bank bought a new position in shares of PayPal in the first quarter worth about $27,000. Private Wealth Management Group LLC bought a new position in shares of PayPal in the fourth quarter worth about $29,000. Register Financial Advisors LLC bought a new position in shares of PayPal in the first quarter worth about $30,000. Finally, CarsonAllaria Wealth Management Ltd. raised its stake 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 acquiring an additional 185 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PYPL shares. Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Robert W. Baird boosted their price target on shares of PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price target on shares of PayPal in a research note on Wednesday, July 31st. The Goldman Sachs Group reissued a “neutral” rating and set a $69.00 price target on shares of PayPal in a research note on Monday, June 24th. Finally, William Blair raised shares of PayPal to a “hold” rating in a research note on Tuesday, July 30th. Seventeen analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $75.25.

Insiders Place Their Bets

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

PayPal Stock Up 0.0 %

PYPL traded up $0.02 during trading hours on Friday, hitting $67.96. 9,506,662 shares of the company’s stock were exchanged, compared to its average volume of 14,486,049. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $70.66. The stock’s 50-day moving average is $61.21 and its two-hundred day moving average is $62.34. The stock has a market cap of $69.48 billion, a price-to-earnings ratio of 17.09, a PEG 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 (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $7.82 billion. During the same period in the prior year, the firm posted $0.83 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts predict 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.