PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by ICA Group Wealth Management LLC

ICA Group Wealth Management LLC reduced its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 74.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 830 shares of the credit services provider’s stock after selling 2,370 shares during the quarter. ICA Group Wealth Management LLC’s holdings in PayPal were worth $48,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Pittenger & Anderson Inc. increased its position in shares of PayPal by 77.5% during 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 period. Verity Asset Management Inc. increased its position 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 valued at $650,000 after purchasing an additional 181 shares during the period. Indiana Trust & Investment Management CO increased its position in shares of PayPal by 18.6% during 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 purchasing an additional 184 shares during the period. Checchi Capital Advisers LLC increased its position in shares of PayPal by 3.1% during the 2nd quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock valued at $358,000 after purchasing an additional 184 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. increased its position in shares of PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 185 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Price Performance

NASDAQ PYPL opened at $70.10 on Monday. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $74.40. The stock’s 50-day moving average is $65.55 and its two-hundred day moving average is $63.95. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $71.67 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 0.99 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last posted its 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 for the quarter, compared to analyst estimates of $7.82 billion. During the same period last year, the company earned $0.83 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. On average, analysts anticipate that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Monness Crespi & Hardt lifted their price target on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Wells Fargo & Company lifted their target price on PayPal from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and issued a $84.00 target price on shares of PayPal in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Mizuho restated an “outperform” rating and issued a $90.00 target price on shares of PayPal in a report on Tuesday, August 20th. Eighteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.56.

About PayPal

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.