PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Tennessee Valley Asset Management Partners

Tennessee Valley Asset Management Partners decreased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,649 shares of the credit services provider’s stock after selling 380 shares during the period. Tennessee Valley Asset Management Partners’ holdings in PayPal were worth $270,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PYPL. Pittenger & Anderson Inc. increased its position in PayPal by 77.5% during 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. American National Bank acquired a new position in PayPal during the first quarter worth $27,000. Private Wealth Management Group LLC purchased a new position in PayPal in the fourth quarter worth $29,000. Family Firm Inc. acquired a new stake in PayPal in the second quarter valued at $29,000. Finally, Register Financial Advisors LLC purchased a new stake in shares of PayPal during the 1st quarter worth $30,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PYPL has been the subject of several recent analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 price objective on shares of PayPal in a research note on Wednesday, July 31st. Barclays lifted their price target on shares of PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. TD Cowen boosted their price target on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. StockNews.com downgraded PayPal from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company boosted their target price on PayPal from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Eighteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $75.56.

PayPal Price Performance

PayPal stock opened at $70.10 on Friday. The firm has a 50 day moving average price of $65.55 and a 200 day moving average price of $63.92. The company has a market cap of $71.67 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 0.99 and a beta of 1.43. 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 1 year low of $50.25 and a 1 year high of $74.40.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. During the same period last year, the firm earned $0.83 EPS. The firm’s 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 year.

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.