Itau Unibanco Holding S.A. Sells 40,432 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Itau Unibanco Holding S.A. lowered its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 96.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,281 shares of the credit services provider’s stock after selling 40,432 shares during the period. Itau Unibanco Holding S.A.’s holdings in PayPal were worth $74,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC boosted its holdings in shares of PayPal by 36.2% during the fourth quarter. Gryphon Financial Partners LLC now owns 9,659 shares of the credit services provider’s stock worth $593,000 after purchasing an additional 2,569 shares during the period. Franklin Resources Inc. raised its holdings in PayPal by 198.4% in the fourth quarter. Franklin Resources Inc. now owns 429,954 shares of the credit services provider’s stock worth $26,403,000 after purchasing an additional 285,847 shares in the last quarter. SageView Advisory Group LLC purchased a new position in PayPal during the fourth quarter valued at $294,000. Skopos Labs Inc. bought a new stake in shares of PayPal during the 4th quarter valued at $274,000. Finally, Hsbc Holdings PLC increased its stake in shares of PayPal by 11.9% in the 4th quarter. Hsbc Holdings PLC now owns 2,891,840 shares of the credit services provider’s stock worth $177,541,000 after acquiring an additional 306,613 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

NASDAQ:PYPL opened at $76.76 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50 day simple moving average of $67.01 and a 200-day simple moving average of $64.46. The firm has a market capitalization of $80.29 billion, a price-to-earnings ratio of 19.34, a PEG 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.

PayPal (NASDAQ:PYPL) last released 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 during the quarter, compared to analyst estimates of $7.82 billion. During the same quarter last year, the business earned $0.83 EPS. The business’s revenue was up 8.2% on a year-over-year basis. Equities analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Analysts Set New Price Targets

PYPL has been the topic of several recent research reports. Jefferies Financial Group cut their price target on PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. JPMorgan Chase & Co. raised their price target on shares of PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $84.00 target price on shares of PayPal in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $78.00 price target on shares of PayPal in a research note on Wednesday, September 18th. Finally, BMO Capital Markets raised their price target on PayPal from $65.00 to $72.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Seventeen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.58.

PayPal Company 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.