Verus Capital Partners LLC Cuts Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Verus Capital Partners LLC lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,705 shares of the credit services provider’s stock after selling 163 shares during the quarter. Verus Capital Partners LLC’s holdings in PayPal were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. lifted its stake in shares of PayPal by 77.5% in the first 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. American National Bank acquired a new stake in shares of PayPal in the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC purchased a new position in PayPal in the 4th quarter valued at approximately $29,000. Family Firm Inc. acquired a new position in PayPal during the second quarter worth $29,000. Finally, Register Financial Advisors LLC purchased a new stake in PayPal during the first quarter worth $30,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PYPL. Macquarie raised their price target on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on shares of PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, Mizuho reaffirmed an “outperform” rating and issued a $90.00 target price on shares of PayPal in a research note on Tuesday, August 20th. Eighteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, PayPal currently has an average rating of “Moderate Buy” and an average target price of $75.56.

PayPal Trading Down 1.0 %

Shares of NASDAQ PYPL traded down $0.73 during midday trading on Monday, hitting $72.43. The stock had a trading volume of 9,634,899 shares, compared to its average volume of 14,303,465. The company has a fifty day moving average price of $63.21 and a 200 day moving average price of $63.14. The company has a market capitalization of $74.05 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 1.03 and a beta of 1.42. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $73.93. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the previous year, the company posted $0.83 earnings per share. PayPal’s revenue was up 8.2% compared to the same quarter last year. On average, analysts predict that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

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.