PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 207,403 shares of the credit services provider’s stock after selling 26,346 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in PayPal were worth $12,036,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in PayPal during the fourth quarter worth $749,561,000. The Manufacturers Life Insurance Company increased its position in shares of PayPal by 125.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after purchasing an additional 958,130 shares during the last quarter. Clearbridge Investments LLC raised its holdings in PayPal by 15.8% in the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after buying an additional 904,804 shares during the period. Boston Partners lifted its position in PayPal by 4,024.5% in the fourth quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock valued at $48,099,000 after buying an additional 764,258 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in 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 buying an additional 743,833 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Trading Up 1.9 %

PYPL opened at $70.18 on Monday. 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. The business’s 50 day moving average is $64.50 and its two-hundred day moving average is $63.59. The firm has a market cap of $71.75 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 0.98 and a beta of 1.43.

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. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same period last year, the firm posted $0.83 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts predict that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on PYPL. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price target on shares of PayPal in a research note on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. New Street Research initiated coverage on shares of PayPal in a research note on Friday, May 31st. They issued a “buy” rating and a $80.00 price objective for the company. TD Cowen upped their target price on shares of PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group reduced their target price on shares of PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Eighteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $75.56.

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.