Oppenheimer & Co. Inc. Sells 16,025 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Oppenheimer & Co. Inc. decreased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 21.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,283 shares of the credit services provider’s stock after selling 16,025 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in PayPal were worth $3,324,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in PYPL. Norges Bank bought a new position in PayPal during the fourth quarter valued at about $749,561,000. The Manufacturers Life Insurance Company boosted its position in PayPal by 125.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after purchasing an additional 958,130 shares during the period. Clearbridge Investments LLC boosted its position in PayPal by 15.8% during the first 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in PayPal by 31.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock worth $194,262,000 after purchasing an additional 687,940 shares during the period. Finally, Swedbank AB bought a new position in PayPal during the first quarter worth about $42,297,000. Institutional investors own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

PYPL has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $84.00 target price on shares of PayPal in a research report on Wednesday, July 31st. William Blair upgraded shares of PayPal to a “hold” rating in a research report on Tuesday, July 30th. Macquarie increased their target price on shares of PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Susquehanna increased their price target on shares of PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a report on Wednesday, July 31st. Finally, Barclays increased their price target on shares of PayPal from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Eighteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $75.56.

PayPal Stock Down 0.4 %

Shares of PayPal stock opened at $70.10 on Monday. 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 52-week low of $50.25 and a 52-week high of $74.40. The stock has a market capitalization of $71.67 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 0.99 and a beta of 1.43. The company’s 50 day moving average price is $65.55 and its 200-day moving average price is $63.95.

PayPal (NASDAQ:PYPL) last issued its 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 analysts’ expectations of $7.82 billion. During the same quarter last year, the business earned $0.83 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS 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.