CVA Family Office LLC Lowers Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

CVA Family Office LLC decreased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 26.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 687 shares of the credit services provider’s stock after selling 253 shares during the quarter. CVA Family Office LLC’s holdings in PayPal were worth $40,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Park Avenue Securities LLC raised its stake in PayPal by 16.5% during the 2nd quarter. Park Avenue Securities LLC now owns 22,487 shares of the credit services provider’s stock worth $1,305,000 after acquiring an additional 3,181 shares during the period. First Bank & Trust bought a new stake in shares of PayPal during the 2nd quarter valued at $223,000. Fulton Bank N.A. boosted its holdings in PayPal by 51.3% in the 2nd quarter. Fulton Bank N.A. now owns 6,463 shares of the credit services provider’s stock worth $375,000 after buying an additional 2,191 shares during the period. Lynx Investment Advisory purchased a new stake in PayPal in the 2nd quarter worth $71,000. Finally, Fragasso Financial Advisors Inc increased its stake in PayPal by 337.1% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 28,544 shares of the credit services provider’s stock worth $1,656,000 after buying an additional 22,013 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Insider Activity at PayPal

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the company’s 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 document filed with the SEC, which can be accessed through this link. 0.14% of the stock is owned by corporate insiders.

PayPal Price Performance

NASDAQ:PYPL traded down $0.01 during trading hours on Wednesday, hitting $62.74. 13,451,023 shares of the stock were exchanged, compared to its average volume of 14,720,729. The firm’s fifty day moving average price is $61.00 and its 200 day moving average price is $62.23. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $70.66. The company has a market cap of $65.63 billion, a P/E ratio of 15.80, a P/E/G ratio of 0.88 and a beta of 1.42. The company has a current ratio of 1.24, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on PYPL. Mizuho raised PayPal from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $68.00 to $90.00 in a research note on Thursday, May 30th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $78.00 price objective on shares of PayPal in a research report on Thursday, July 11th. Evercore ISI boosted their target price on shares of PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Sanford C. Bernstein raised shares of PayPal from a “market perform” rating to an “outperform” rating and raised their target price for the company from $71.00 to $78.00 in a research note on Wednesday, July 31st. Finally, New Street Research initiated coverage on shares of PayPal in a research note on Friday, May 31st. They issued a “buy” rating and a $80.00 price target on the stock. Eighteen equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.94.

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.