Wedbush Securities Inc. Cuts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Wedbush Securities Inc. cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,769 shares of the credit services provider’s stock after selling 2,620 shares during the quarter. Wedbush Securities Inc.’s holdings in PayPal were worth $1,611,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. increased its holdings 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 acquiring an additional 172 shares during the period. Verity Asset Management Inc. grew its stake in PayPal by 1.9% in the first quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock valued at $650,000 after purchasing an additional 181 shares during the last quarter. Indiana Trust & Investment Management CO raised its holdings in PayPal by 18.6% in the first quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock worth $79,000 after purchasing an additional 184 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in shares of PayPal by 3.1% during the second quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock valued at $358,000 after buying an additional 184 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of PayPal by 65.8% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after buying an additional 185 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Up 0.7 %

PYPL stock opened at $69.35 on Tuesday. The firm’s fifty day moving average is $64.73 and its 200 day moving average is $63.67. The firm has a market cap of $70.90 billion, a PE ratio of 17.47, a P/E/G ratio of 0.98 and a beta of 1.43. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $74.40. 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 posted its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.83 EPS. On average, research analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Analyst Ratings Changes

PYPL has been the subject of several recent analyst reports. Sanford C. Bernstein upgraded shares of PayPal from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $71.00 to $78.00 in a research note on Wednesday, July 31st. William Blair upgraded PayPal to a “hold” rating in a report on Tuesday, July 30th. Evercore ISI raised their price objective on PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Macquarie raised their price target on PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Eighteen investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.