Lazari Capital Management Inc. Sells 604 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Lazari Capital Management Inc. trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,375 shares of the credit services provider’s stock after selling 604 shares during the period. PayPal makes up 0.7% of Lazari Capital Management Inc.’s investment portfolio, making the stock its 26th largest holding. Lazari Capital Management Inc.’s holdings in PayPal were worth $1,589,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PYPL. Primecap Management Co. CA lifted its holdings 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 worth $287,043,000 after purchasing an additional 3,184,160 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of PayPal by 125.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after purchasing an additional 958,130 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of PayPal by 31.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock worth $194,262,000 after purchasing an additional 687,940 shares in the last quarter. Finally, Swedbank AB purchased a new stake in PayPal in the 1st quarter valued at $42,297,000. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $77.47 on Wednesday. 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’s 50-day moving average is $69.48 and its 200 day moving average is $65.31. The stock has a market cap of $81.04 billion, a price-to-earnings ratio of 19.51, a P/E/G ratio of 1.12 and a beta of 1.43. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $80.63.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the previous year, the firm earned $0.83 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PYPL shares. Sanford C. Bernstein raised PayPal from a “market perform” rating to an “outperform” rating and increased their price target for the company from $71.00 to $78.00 in a research report on Wednesday, July 31st. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and increased their price target for the company from $68.00 to $72.00 in a research report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $84.00 price target on shares of PayPal in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $78.00 price target on shares of PayPal in a research report on Wednesday, September 18th. Finally, Jefferies Financial Group decreased their target price on PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Seventeen analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.38.

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.