Horan Capital Advisors LLC. Sells 264 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Horan Capital Advisors LLC. lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,273 shares of the credit services provider’s stock after selling 264 shares during the period. Horan Capital Advisors LLC.’s holdings in PayPal were worth $1,757,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PYPL. Norges Bank purchased a new stake in shares of PayPal during the fourth quarter worth $749,561,000. The Manufacturers Life Insurance Company lifted its position in shares of PayPal by 125.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after acquiring an additional 958,130 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of PayPal by 15.8% during the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock worth $445,103,000 after acquiring an additional 904,804 shares in the last quarter. Boston Partners lifted its position in shares of PayPal by 4,024.5% during the fourth quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock worth $48,099,000 after acquiring an additional 764,258 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its position in shares of PayPal by 1,309.2% during the fourth quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock worth $49,168,000 after acquiring an additional 743,833 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

PYPL has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered their price objective on PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Citigroup increased their price objective on PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. Barclays increased their price objective on PayPal from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Argus upgraded PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Eighteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $75.56.

PayPal Stock Performance

PayPal stock opened at $68.89 on Monday. The stock’s 50 day simple moving average is $64.50 and its two-hundred day simple moving average is $63.59. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $74.40. The stock has a market cap of $70.43 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 0.98 and a beta of 1.43. 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) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same period last year, the business earned $0.83 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. As a group, analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal 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.