Edge Capital Group LLC Sells 648 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Edge Capital Group LLC cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 12.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,654 shares of the credit services provider’s stock after selling 648 shares during the period. Edge Capital Group LLC’s holdings in PayPal were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Gabelli Funds LLC grew its holdings in shares of PayPal by 10.1% during the second quarter. Gabelli Funds LLC now owns 36,310 shares of the credit services provider’s stock worth $2,107,000 after buying an additional 3,320 shares in the last quarter. Frank Rimerman Advisors LLC lifted its stake in PayPal by 20,552.6% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 11,772 shares of the credit services provider’s stock valued at $683,000 after acquiring an additional 11,715 shares in the last quarter. Profund Advisors LLC boosted its position in PayPal by 4.2% during the 2nd quarter. Profund Advisors LLC now owns 146,223 shares of the credit services provider’s stock worth $8,485,000 after acquiring an additional 5,890 shares during the last quarter. Legacy Financial Advisors Inc. grew its stake in shares of PayPal by 4.2% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 7,644 shares of the credit services provider’s stock worth $444,000 after acquiring an additional 310 shares in the last quarter. Finally, Ensign Peak Advisors Inc raised its holdings in shares of PayPal by 21.8% in the second quarter. Ensign Peak Advisors Inc now owns 1,651,025 shares of the credit services provider’s stock valued at $95,809,000 after purchasing an additional 295,331 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

PYPL has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $84.00 target price on shares of PayPal in a report on Wednesday, July 31st. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $78.00 target price on shares of PayPal in a research report on Wednesday, September 18th. New Street Research assumed coverage on PayPal in a research report on Friday, May 31st. They set a “buy” rating and a $80.00 price target for the company. Finally, UBS Group boosted their price target on PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Seventeen research 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 company’s stock. Based on data from MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus price target of $75.58.

PayPal Stock Down 1.0 %

PYPL opened at $76.76 on Monday. The stock has a fifty day moving average of $67.01 and a 200-day moving average of $64.46. The company has a market capitalization of $80.29 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 fifty-two week low of $50.25 and a fifty-two week high of $78.25. 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 (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share 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 business had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter in the previous year, the company earned $0.83 EPS. The business’s revenue was up 8.2% on a year-over-year basis. On average, equities analysts expect 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.