Legacy Financial Advisors Inc. Raises Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Legacy Financial Advisors Inc. grew its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 7,644 shares of the credit services provider’s stock after acquiring an additional 310 shares during the period. Legacy Financial Advisors Inc.’s holdings in PayPal were worth $444,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PYPL. SYSTM Wealth Solutions LLC lifted its position in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 167 shares during the period. Pittenger & Anderson Inc. lifted its holdings in shares of PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. Verity Asset Management Inc. boosted its position in shares of PayPal by 1.9% in the 1st quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock worth $650,000 after purchasing an additional 181 shares in the last quarter. Indiana Trust & Investment Management CO grew its stake in shares of PayPal by 18.6% in the 1st quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock worth $79,000 after buying an additional 184 shares during the last quarter. Finally, Checchi Capital Advisers LLC increased its position in PayPal by 3.1% during the 2nd quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock valued at $358,000 after buying an additional 184 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

Shares of NASDAQ:PYPL 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. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $78.25. The firm’s 50 day simple moving average is $67.01 and its two-hundred day simple moving average is $64.42. 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 released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share 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 company had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter in the previous year, the company earned $0.83 EPS. PayPal’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts expect that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on PYPL shares. BMO Capital Markets boosted their target price on PayPal from $65.00 to $72.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Monness Crespi & Hardt increased their price objective on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Citigroup raised their price objective on shares of PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Sanford C. Bernstein upgraded shares of PayPal from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $71.00 to $78.00 in a research note on Wednesday, July 31st. Finally, Macquarie raised their price target on shares of PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Seventeen 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.58.

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.