Bulltick Wealth Management LLC Decreases Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Bulltick Wealth Management LLC trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 50.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,260 shares of the credit services provider’s stock after selling 86,169 shares during the period. Bulltick Wealth Management LLC’s holdings in PayPal were worth $4,832,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PYPL. Pittenger & Anderson Inc. increased its stake in PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares during the period. American National Bank bought a new position in shares of PayPal in the first quarter worth approximately $27,000. Family Firm Inc. bought a new stake in PayPal during the 2nd quarter valued at $29,000. SYSTM Wealth Solutions LLC boosted 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 buying an additional 167 shares during the period. Finally, Register Financial Advisors LLC bought a new stake in PayPal in the 1st quarter worth $30,000. 68.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PYPL shares. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. StockNews.com lowered PayPal from a “buy” rating to a “hold” rating in a research report on Thursday. Citigroup upped their target price on PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a report on Monday, June 10th. JPMorgan Chase & Co. lifted their price target on shares of PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company upped their price objective on shares of PayPal from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Seventeen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.58.

PayPal Stock Down 1.0 %

NASDAQ PYPL opened at $76.76 on Friday. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $78.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock has a market cap of $78.47 billion, a PE ratio of 19.34, a P/E/G ratio of 1.01 and a beta of 1.43. The stock’s 50 day moving average is $67.01 and its 200 day moving average is $64.38.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. The firm had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Research analysts predict that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

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.