Prestige Wealth Management Group LLC owns $38,000 in PayPal Holdings, Inc. (NASDAQ:PYPL)

Prestige Wealth Management Group LLC trimmed its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 64.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 663 shares of the credit services provider’s stock after selling 1,193 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in PayPal were worth $38,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have recently made changes to their positions in the company. Pittenger & Anderson Inc. boosted its stake in PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after buying an additional 172 shares during the period. American National Bank acquired a new stake in shares of PayPal in the first quarter valued at $27,000. Private Wealth Management Group LLC acquired a new stake in shares of PayPal in the fourth quarter valued at $29,000. Family Firm Inc. purchased a new position in shares of PayPal during the second quarter valued at $29,000. Finally, Register Financial Advisors LLC acquired a new position in PayPal in the first quarter valued at $30,000. 68.32% of the shares are currently owned by institutional investors and hedge funds.

PayPal stock falls 4.4%

Shares of PYPL stock opened at $68.89 on Monday. PayPal Holdings, Inc. it has a 52-week low of $50.25 and a 52-week high of $74.40. The firm has a market cap of $70.43 billion, a P/E ratio of 17.35, a P/E/G ratio of 0.98 and a beta of 1.43. The company has a 50-day simple moving average of $64.50 and a 200-day simple moving average of $63.59. 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 – Get Your Free Report ) last posted its quarterly 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. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. In the same quarter last year, the firm posted EPS of $0.83. The company’s revenue for the quarter was up 8.2% year over year. On average, equities research analysts expect that PayPal Holdings, Inc. to post 4.42 earnings per share for the current year.

Changes in Analyst Ratings

Several equities analysts have weighed in on PYPL shares. Evercore ISI raised their target price on PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Wells Fargo & Company boosted their price objective on shares of PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. UBS Group upped their target price on shares of PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded shares of PayPal from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Eighteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. PayPal presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.56, based on data from MarketBeat.

Get the latest analysis on PYPL

PayPal profile

(Free report)

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers around the world. It operates a two-way network at scale connecting merchants and consumers, enabling its customers to connect, transact and send and receive payments online and in person, as well as transfer and withdraw funds using various funding sources such as such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products, including its installment products, credit and debit cards and cryptocurrencies, and other stored value products, including gift cards and eligible rewards.

Featured stories

Want to see what other hedge funds hold PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report).

Get PayPal news and reviews daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for PayPal and related companies with MarketBeat.com’s FREE daily email newsletter.