Cornerstone Advisors LLC Reduces Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Cornerstone Advisors LLC lowered its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 63,100 shares of the credit services provider’s stock after selling 4,900 shares during the quarter. Cornerstone Advisors LLC’s holdings in PayPal were worth $3,662,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Clearbridge Investments LLC lifted its position in shares of PayPal by 15.8% in the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock worth $445,103,000 after purchasing an additional 904,804 shares during the period. First Trust Advisors LP lifted its position in PayPal by 1.7% during the 4th quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock valued at $225,283,000 after acquiring an additional 61,384 shares during the period. Dimensional Fund Advisors LP lifted its position in PayPal by 14.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock valued at $183,789,000 after acquiring an additional 409,322 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in PayPal by 5.1% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock valued at $176,789,000 after acquiring an additional 146,643 shares during the period. Finally, Hsbc Holdings PLC lifted its position in PayPal by 11.9% during the 4th quarter. Hsbc Holdings PLC now owns 2,891,840 shares of the credit services provider’s stock valued at $177,541,000 after acquiring an additional 306,613 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Trading Up 1.4 %

Shares of PayPal stock opened at $71.07 on Tuesday. The firm has a market cap of $72.66 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 1.00 and a beta of 1.43. The business has a 50-day moving average price of $65.79 and a 200-day moving average price of $64.02. 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 Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $74.40.

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

Analysts Set New Price Targets

A number of analysts have weighed in on PYPL shares. William Blair upgraded shares of PayPal to a “hold” rating in a research note on Tuesday, July 30th. Evercore ISI raised their price objective on shares of PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. The Goldman Sachs Group restated a “neutral” rating and set a $69.00 price objective on shares of PayPal in a research note on Monday, June 24th. 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. Finally, UBS Group raised their price objective 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 investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.56.

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.