DRW Securities LLC Cuts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

DRW Securities LLC lessened its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 57.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,418 shares of the credit services provider’s stock after selling 12,609 shares during the period. DRW Securities LLC’s holdings in PayPal were worth $548,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pittenger & Anderson Inc. increased its stake in PayPal by 77.5% during the 1st 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 in the last quarter. American National Bank acquired a new position in shares of PayPal during the 1st quarter worth about $27,000. Register Financial Advisors LLC purchased a new position in PayPal in the 1st quarter valued at about $30,000. CarsonAllaria Wealth Management Ltd. boosted its stake in PayPal by 65.8% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after buying an additional 185 shares during the last quarter. Finally, Family Firm Inc. purchased a new stake in PayPal in the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $77.67 on Tuesday. 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 one year low of $50.25 and a one year high of $78.80. The company has a 50-day simple moving average of $67.35 and a 200-day simple moving average of $64.60. The stock has a market capitalization of $81.25 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.01 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The company had revenue of $7.89 billion during 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%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.83 EPS. On average, analysts predict that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PYPL shares. Macquarie boosted 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. JPMorgan Chase & Co. boosted their target price on shares of PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. BMO Capital Markets increased their price target on shares of PayPal from $65.00 to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Jefferies Financial Group lowered their price objective on PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Finally, Susquehanna raised their price objective on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a research report on Wednesday, July 31st. Seventeen analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and an average target price of $76.16.

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.