Cullen Investment Group LTD. Cuts Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Cullen Investment Group LTD. lowered its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,523 shares of the credit services provider’s stock after selling 488 shares during the period. Cullen Investment Group LTD.’s holdings in PayPal were worth $437,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of PYPL. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in PayPal during the 4th quarter valued at approximately $25,000. Pittenger & Anderson Inc. lifted 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 acquiring an additional 172 shares during the period. American National Bank bought a new stake in PayPal in the first quarter valued at $27,000. Private Wealth Management Group LLC purchased a new position in PayPal during the 4th quarter valued at $29,000. Finally, Register Financial Advisors LLC purchased a new position in PayPal during the 1st quarter valued at $30,000. Institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PYPL. StockNews.com downgraded PayPal from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Jefferies Financial Group dropped their target price on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Mizuho raised shares of PayPal from a “neutral” rating to a “buy” rating and raised their price target for the company from $68.00 to $90.00 in a research report on Thursday, May 30th. Robert W. Baird upped their price objective on PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Stephens increased their target price on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Nineteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $74.94.

Insider Activity

In other news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the sale, the director now owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

PayPal Trading Down 5.1 %

PYPL traded down $3.33 during trading hours on Friday, reaching $61.98. 23,117,055 shares of the company’s stock traded hands, compared to its average volume of 12,879,998. The firm has a market capitalization of $63.36 billion, a PE ratio of 15.61, a PEG ratio of 0.93 and a beta of 1.42. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $70.66. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $61.01 and a 200 day moving average price of $62.24.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion during 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%. PayPal’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 earnings per share. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

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.