Marble Harbor Investment Counsel LLC Sells 1,105 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Marble Harbor Investment Counsel LLC lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,783 shares of the credit services provider’s stock after selling 1,105 shares during the quarter. PayPal accounts for approximately 1.1% of Marble Harbor Investment Counsel LLC’s holdings, making the stock its 27th biggest holding. Marble Harbor Investment Counsel LLC’s holdings in PayPal were worth $9,504,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Fiduciary Alliance LLC raised its position in PayPal by 604.7% in the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock worth $3,452,000 after purchasing an additional 45,544 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of PayPal by 44.6% during the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after buying an additional 381 shares during the period. Blue Trust Inc. boosted its stake in PayPal by 21.2% in the 2nd quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock valued at $195,000 after buying an additional 588 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in PayPal by 18.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock valued at $15,686,000 after acquiring an additional 36,994 shares during the period. Finally, Brown Shipley& Co Ltd raised its stake in PayPal by 6.0% during the fourth quarter. Brown Shipley& Co Ltd now owns 51,372 shares of the credit services provider’s stock worth $3,155,000 after acquiring an additional 2,919 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Price Performance

Shares of PYPL stock opened at $70.10 on Monday. The firm has a market capitalization of $71.67 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 0.99 and a beta of 1.43. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $74.40. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average of $65.55 and a 200-day moving average of $63.95.

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, topping 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 prior year, the company earned $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, equities research analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Citigroup boosted their target price on shares of PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, June 10th. JPMorgan Chase & Co. upped their price objective on shares of PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. BMO Capital Markets lifted their target price on shares of PayPal from $65.00 to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group reissued a “neutral” rating and issued a $69.00 target price on shares of PayPal in a report on Monday, June 24th. Finally, Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Eighteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and a consensus 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.