Fulton Bank N.A. Trims Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Fulton Bank N.A. trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,319 shares of the credit services provider’s stock after selling 144 shares during the quarter. Fulton Bank N.A.’s holdings in PayPal were worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Pittenger & Anderson Inc. increased its holdings in shares of PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 172 shares in the last quarter. American National Bank purchased a new position in PayPal in the first quarter worth about $27,000. Family Firm Inc. purchased a new position in shares of PayPal in the second quarter worth approximately $29,000. SYSTM Wealth Solutions LLC grew its holdings in PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares during the period. Finally, Register Financial Advisors LLC bought a new position in shares of PayPal in the first quarter worth about $30,000. Institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

PYPL has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 target price on shares of PayPal in a research report on Wednesday, July 31st. William Blair raised shares of PayPal to a “hold” rating in a report on Tuesday, July 30th. Macquarie lifted their price objective on shares of PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Sanford C. Bernstein upgraded PayPal from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $71.00 to $78.00 in a research report on Wednesday, July 31st. Seventeen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $76.41.

PayPal Stock Performance

Shares of PayPal stock opened at $81.16 on Wednesday. The firm has a market capitalization of $84.90 billion, a P/E ratio of 20.44, a PEG ratio of 1.41 and a beta of 1.44. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $81.40. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average price of $71.11 and a 200 day moving average price of $65.71.

PayPal (NASDAQ:PYPL) last issued 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 company 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 firm posted $0.83 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts expect that PayPal Holdings, Inc. will post 4.42 EPS for the current 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.