International Assets Investment Management LLC Decreases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

International Assets Investment Management LLC cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,232 shares of the credit services provider’s stock after selling 655 shares during the period. International Assets Investment Management LLC’s holdings in PayPal were worth $652,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Intrust Bank NA acquired a new stake in PayPal in the fourth quarter valued at $236,000. Victory Capital Management Inc. raised its stake in PayPal by 1.2% in the fourth quarter. Victory Capital Management Inc. now owns 903,876 shares of the credit services provider’s stock valued at $55,507,000 after buying an additional 11,154 shares in the last quarter. First Trust Direct Indexing L.P. raised its stake in PayPal by 17.8% in the fourth quarter. First Trust Direct Indexing L.P. now owns 19,029 shares of the credit services provider’s stock valued at $1,169,000 after buying an additional 2,876 shares in the last quarter. JFG Wealth Management LLC acquired a new stake in shares of PayPal during the fourth quarter worth about $242,000. Finally, Mechanics Financial Corp increased its position in shares of PayPal by 6.4% during the fourth quarter. Mechanics Financial Corp now owns 4,585 shares of the credit services provider’s stock worth $282,000 after purchasing an additional 275 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Price Performance

PYPL stock opened at $72.43 on Friday. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $73.93. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s 50 day moving average price is $63.21 and its 200 day moving average price is $63.08. The firm has a market cap of $74.05 billion, a P/E ratio of 18.24, a PEG ratio of 1.03 and a beta of 1.42.

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. The company had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. PayPal’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 EPS. On average, sell-side analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on PYPL. New Street Research began coverage on PayPal in a research report on Friday, May 31st. They set a “buy” rating and a $80.00 target price on the stock. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $84.00 target price on shares of PayPal in a research report on Wednesday, July 31st. StockNews.com cut PayPal from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Susquehanna lifted their target price on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a research report on Wednesday, July 31st. Eighteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.