Focus Financial Network Inc. Sells 362 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Focus Financial Network Inc. trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 11,918 shares of the credit services provider’s stock after selling 362 shares during the quarter. Focus Financial Network Inc.’s holdings in PayPal were worth $730,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of PayPal during the 4th quarter valued at $749,561,000. The Manufacturers Life Insurance Company boosted its position in shares of PayPal by 125.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after acquiring an additional 958,130 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of PayPal by 15.8% during the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after acquiring an additional 904,804 shares during the last quarter. Boston Partners boosted its position in shares of PayPal by 4,024.5% during the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock valued at $48,099,000 after acquiring an additional 764,258 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in shares of PayPal by 1,309.2% during the 4th quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock valued at $49,168,000 after buying an additional 743,833 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

PayPal Trading Up 3.5 %

PayPal stock traded up $2.46 during mid-day trading on Tuesday, hitting $71.89. The company’s stock had a trading volume of 23,521,986 shares, compared to its average volume of 14,511,910. The firm has a market capitalization of $73.50 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 0.94 and a beta of 1.42. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $72.56. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average is $61.27 and its two-hundred day moving average is $62.42.

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, 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 return on equity of 22.82% and a net margin of 14.30%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 earnings per share. On average, analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Insider Transactions at PayPal

In other news, Director Deborah M. Messemer sold 4,422 shares of the firm’s stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PYPL shares. 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. Evercore ISI boosted their target price on PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Jefferies Financial Group dropped their price target on PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Macquarie lifted their price target on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets lifted their price target on PayPal from $65.00 to $72.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Seventeen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.56.

PayPal 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.