Summit Trail Advisors LLC Lowers Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Summit Trail Advisors LLC trimmed its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,661 shares of the credit services provider’s stock after selling 646 shares during the quarter. Summit Trail Advisors LLC’s holdings in PayPal were worth $561,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PYPL. Clearbridge Investments LLC raised its position in shares of PayPal by 15.8% in the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock worth $445,103,000 after acquiring an additional 904,804 shares during the period. Primecap Management Co. CA increased its stake in shares of PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after purchasing an additional 3,184,160 shares in the last quarter. First Trust Advisors LP raised its holdings in PayPal by 1.7% in the 4th quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock worth $225,283,000 after purchasing an additional 61,384 shares during the period. Dimensional Fund Advisors LP boosted its position in PayPal by 14.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock worth $183,789,000 after purchasing an additional 409,322 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in PayPal by 5.1% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock valued at $176,789,000 after purchasing an additional 146,643 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $84.00 target price on shares of PayPal in a research report on Wednesday, July 31st. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Monness Crespi & Hardt upped their price target on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Barclays lifted their price objective on PayPal from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company increased their target price on PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a 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, PayPal currently has an average rating of “Moderate Buy” and an average price target of $75.58.

PayPal Trading Down 1.0 %

Shares of PYPL stock opened at $76.76 on Monday. The company has a 50-day moving average of $67.01 and a two-hundred day moving average of $64.46. The firm has a market cap of $80.29 billion, a PE ratio of 19.34, a price-to-earnings-growth 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 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 posted its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating 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 the consensus estimate of $7.82 billion. During the same quarter last year, the firm earned $0.83 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts predict 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.