Kingswood Wealth Advisors LLC Cuts Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Kingswood Wealth Advisors LLC decreased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,900 shares of the credit services provider’s stock after selling 311 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in PayPal were worth $574,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Hartford Financial Management Inc. increased its holdings in shares of PayPal by 18.8% during the 4th quarter. Hartford Financial Management Inc. now owns 1,032 shares of the credit services provider’s stock worth $63,000 after buying an additional 163 shares during the last quarter. Pittenger & Anderson Inc. lifted its stake in shares of PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. Verity Asset Management Inc. grew its holdings in shares of PayPal by 1.9% during the 1st quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock worth $650,000 after purchasing an additional 181 shares during the period. Waldron Private Wealth LLC increased its position in shares of PayPal by 1.9% during the 4th quarter. Waldron Private Wealth LLC now owns 9,619 shares of the credit services provider’s stock worth $590,000 after purchasing an additional 182 shares during the last quarter. Finally, Indiana Trust & Investment Management CO raised its holdings in PayPal by 18.6% in the 1st quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock valued at $79,000 after buying an additional 184 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Insider Buying and Selling at PayPal

In related news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the completion of the sale, the director now directly owns 13,976 shares in the company, valued at approximately $861,620.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by company insiders.

PayPal Price Performance

PayPal stock traded down $0.01 during midday trading on Wednesday, reaching $62.74. 13,330,723 shares of the company were exchanged, compared to its average volume of 14,719,987. The company has a market capitalization of $64.14 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 0.88 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.24. The firm’s 50-day simple moving average is $61.00 and its 200-day simple moving average is $62.23. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $70.66.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating 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 company had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same period in the previous year, the firm posted $0.83 EPS. PayPal’s revenue was up 8.2% on a year-over-year basis. On average, analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PYPL. UBS Group boosted their price target on shares of PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Evercore ISI boosted their price target on shares of PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Mizuho upgraded PayPal from a “neutral” rating to a “buy” rating and increased their price objective for the company from $68.00 to $90.00 in a research note on Thursday, May 30th. Royal Bank of Canada reissued an “outperform” rating and set a $84.00 target price on shares of PayPal in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $78.00 target price on shares of PayPal in a research note on Thursday, July 11th. Eighteen analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.94.

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.