PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by United Services Automobile Association

United Services Automobile Association lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.2% during the second quarter, Holdings Channel.com reports. The firm owned 31,276 shares of the credit services provider’s stock after selling 1,364 shares during the quarter. United Services Automobile Association’s holdings in PayPal were worth $1,815,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Pittenger & Anderson Inc. boosted its holdings in PayPal by 77.5% during 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 in the last quarter. American National Bank purchased a new stake in shares of PayPal during the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC acquired a new stake in shares of PayPal in the 4th quarter worth approximately $29,000. Family Firm Inc. purchased a new position in PayPal in the 2nd quarter valued at approximately $29,000. Finally, Register Financial Advisors LLC acquired a new position in PayPal during the first quarter worth $30,000. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Trading Up 0.7 %

PYPL opened at $69.35 on Tuesday. The firm has a market capitalization of $70.90 billion, a P/E ratio of 17.47, a P/E/G ratio of 0.98 and a beta of 1.43. The firm’s 50 day moving average is $64.73 and its 200-day moving average is $63.67. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $74.40.

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

Analyst Ratings Changes

Several equities research analysts recently commented on PYPL shares. William Blair upgraded shares of PayPal to a “hold” rating in a research report on Tuesday, July 30th. TD Cowen increased their price target on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and set a $84.00 price objective on shares of PayPal in a research report on Wednesday, July 31st. Jefferies Financial Group lowered their target price on PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $78.00 price target on shares of PayPal in a report on Thursday, July 11th. Eighteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.56.

PayPal 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.