Bridges Investment Management Inc. Lowers Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Bridges Investment Management Inc. trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 68.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,669 shares of the credit services provider’s stock after selling 38,021 shares during the quarter. Bridges Investment Management Inc.’s holdings in PayPal were worth $1,025,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. boosted its stake in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares during the period. American National Bank bought a new position in PayPal in the 1st quarter worth approximately $27,000. Family Firm Inc. purchased a new stake in PayPal during the 2nd quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC raised its position in shares of PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares during the last quarter. Finally, Register Financial Advisors LLC purchased a new position in shares of PayPal in the first quarter worth $30,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PYPL shares. UBS Group lifted their price target on shares of PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $84.00 target price on shares of PayPal in a report on Wednesday, July 31st. Susquehanna increased their price target on PayPal from $71.00 to $83.00 and gave the company a “positive” rating in a research note on Wednesday, July 31st. William Blair raised PayPal to a “hold” rating in a research note on Tuesday, July 30th. Finally, Mizuho reaffirmed an “outperform” rating and set a $90.00 price objective on shares of PayPal in a report on Tuesday, August 20th. Seventeen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.58.

PayPal Price Performance

Shares of PYPL stock opened at $76.76 on Friday. The company has a market capitalization of $78.47 billion, a P/E ratio of 19.34, a P/E/G ratio of 1.01 and a beta of 1.43. The company’s 50-day simple moving average is $67.01 and its two-hundred day simple moving average is $64.38. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $78.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data 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. The company had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. PayPal’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 earnings per share. As a group, equities analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS for the current 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.